The opportunity for conspiracy in restraint of trade: An experimental study |
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Authors: | RMark Isaac Charles R Plott |
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Institution: | University of Arizona, Tucson, AZ 85721, USA;California Institute of Technology, Pasadena, CA 91125, USA |
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Abstract: | This study is a limited exploration into the relationship between the opportunity for conspiracy in restraint of trade and the resulting market performance. Laboratory experimental methods are applied to separate competing theories. The competitive model predicts well relative to cartel models. Nevertheless, when measurements are taken relative to the performance of markets where conspiracies are not possible, the effects of attempted conspiracies can be detected. |
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