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• W1971731578 abstract "I develop a dynamic model of collusion, affording a substantial role to entry. Heterogeneous firms make collusion, entry, exit, and investment decisions within an evolving environment. The collusive agreement adopted is a rule of thumb, motivated by the details of collusion in the lysine market. It is found that an entrant will wait until it has a market share comparable to its competitors before agreeing to collude. Allowing for collusive possibilities tends to yield a less concentrated industry with reduced consumer welfare. The model characterises events in the lysine market and could provide insights into markets with the potential for collusion and entry, and uncertainty about the characteristics of potential entrants." @default.
• W1971731578 created "2016-06-24" @default.
• W1971731578 creator A5036029948 @default.
• W1971731578 date "2004-03-01" @default.
• W1971731578 modified "2023-10-16" @default.
• W1971731578 title "A model of collusion timing" @default.
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• W1971731578 doi "https://doi.org/10.1016/j.ijindorg.2003.10.003" @default.
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