On the nature and significance of collusive price leadership |
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| Institution: | 1. Department of Psychology, Technical University Dresden, Dresden, Germany;2. Max Planck Institute for Research on Collective Goods, Bonn, Germany;3. School of Education, Technical University Munich, Munich, Germany;4. Department of Psychology, University of Koblenz-Landau, Landau, Germany |
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| Abstract: | With the help of a simple analytical model we are able to analyze and to further clarify the conditions for collusive price leadership as they were originally devised by Jesse Markham. Within the confines of this model we show how collusion increases price-cost margins, but at the same time decreases concentration in the industry. |
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