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On the Tacit Collusion Equilibria of an Investment Timing Game

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Author Info
Richard Rubble (EMLYON Business School - EMLYON Business School)
Bruno Versaevel () (EMLYON Business School - EMLYON Business School, GATE - Groupe d'analyse et de théorie économique - CNRS : UMR5824 - Université Lumière - Lyon II - Ecole Normale Supérieure Lettres et Sciences Humaines)

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Abstract

This note further characterizes the tacit collusion equilibria in the investment timing game of Boyer, Lasserre and Moreaux [1]. Tacit collusion equilibria may or may not exist, and when they do may involve either finite time investments (type 1) or infinite delay (type 2). The relationship between equilibria and common demand forms is not immediately apparent. We provide the full necessary and sufficient conditions for existence.A simple condition on demand primitives is derived that determines the type of equilibria. Common demand forms are then shown to illustrate both finite-time and infinite-delay tacit collusion.

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Paper provided by HAL in its series Post-Print with number halshs-00373952_v1.

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Date of creation: 2008
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Handle: RePEc:hal:journl:halshs-00373952_v1

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Related research
Keywords: Real options; Duopoly; Collusion; Investment;

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  1. Marcel Boyer & Pierre Lasserre & Michel Moreaux, 2007. "The Dynamics of Industry Investments," CIRANO Working Papers 2007s-09, CIRANO. [Downloadable!]
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This page was last updated on 2009-12-22.

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