Collusion with (almost) no information

被引:0
|
作者
Hoerner, Johannes [1 ,2 ]
Jamison, Julian [3 ]
机构
[1] Northwestern Univ, HEC Sch Management, Paris, France
[2] CEPR, Paris, France
[3] Univ Calif Berkeley, Berkeley, CA 94720 USA
来源
RAND JOURNAL OF ECONOMICS | 2007年 / 38卷 / 03期
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中图分类号
F [经济];
学科分类号
02 ;
摘要
We analyze noncooperative collusion in an infinitely repeated Bertrand game, where each of the n firms receives a privately observed, i.i.d. cost shock in each period and firms only (and privately) observe whether they have "won" the unit mass of consumers. No other information is available and no communication is allowed. We prove that there exist equilibria in private strategies approximating first-best profits when firms are sufficiently patient. In particular productive efficiency obtains in the limit.
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页码:804 / 822
页数:19
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