Semicollusion in the Norwegian Cement Market
A model of semicollusion, where firms collude on prices and compete on capacities, is tailor-made to the characteristics of the Norwegian cement market and tested empirically on this particular market for the period 1927-1982. The results indicate that the rapid increase in capacity and thereby in exports in the period 1956 to 1967, the late phase of the price cartel, best can be explained by the market sharing agreement : each firm overinvested in capacity to receive a large quota in the domestic market.
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|Date of creation:||1996|
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3-88-14, Pennsylvania State - Department of Economics.
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"Excess Capacity and Collusion,"
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Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 31(3), pages 521-41, August.
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"Cartels, Profits and Excess Capacity,"
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Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 28(2), pages 413-28, June.
- Rosenbaum, David I., 1989. "An empirical test of the effect of excess capacity in price setting, capacity-constrained supergames," International Journal of Industrial Organization, Elsevier, vol. 7(2), pages 231-241, June.
- David M. Kreps & Jose A. Scheinkman, 1983. "Quantity Precommitment and Bertrand Competition Yield Cournot Outcomes," Bell Journal of Economics, The RAND Corporation, vol. 14(2), pages 326-337, Autumn.
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"Inter-industry studies of structure and performance,"
1874-87., Massachusetts Institute of Technology (MIT), Sloan School of Management.
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- Chaim Fershtman & Eitan Muller, 1986. "Capital Investments and Price Agreements in Semicollusive Markets," RAND Journal of Economics, The RAND Corporation, vol. 17(2), pages 214-226, Summer.
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