The Theory of Collusion and Competition Policy

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Joseph E. Harrington, Jr. (Professor of Economics, The Wharton School at the University of Pennsylvania )

The Theory of Collusion and Competition Policy

Joseph E. Harrington, Jr. (Professor of Economics, The Wharton School at the University of Pennsylvania )

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English

MIT Press
16 November 2017

Economic theory & philosophy; Economics of industrial organisation; Competition law & Antitrust law

Series: The Theory of Collusion and Competition Policy

A review of the theoretical research on unlawful collusion, focusing on the impact and optimal design of competition law and enforcement.

Collusion occurs when firms in a market coordinate their behavior for the purpose of producing a supracompetitive outcome. The literature on the theory of collusion is deep and broad but most of that work does not take account of the possible illegality of collusion. Recently, there has been a growing body of research that explicitly focuses on collusion that runs afoul of competition law and thereby makes firms potentially liable for penalties. This book, by an expert on the subject, reviews the theoretical research on unlawful collusion, with a focus on two issues- the impact of competition law and enforcement on whether, how long, and how much firms collude; and the optimal design of competition law and enforcement.

The book begins by discussing general issues that arise when models of collusion take into account competition law and enforcement. It goes on to consider game-theoretic models that encompass the probability of detection and penalties incurred when convicted, and examines how these policy instruments affect the frequency of cartels, cartel duration, cartel participation, and collusive prices. The book then considers the design of competition law and enforcement, examining such topics as the formula for penalties and leniency programs. The book concludes with suggested future lines of inquiry into illegal collusion.

By: Joseph E. Harrington Jr. (Professor of Economics The Wharton School at the University of Pennsylvania )
Imprint: MIT Press
Country of Publication: United States
Dimensions: Height: 203mm, Width: 137mm, Spine: 10mm
ISBN: 9780262036931
ISBN 10: 0262036932
Series: The Theory of Collusion and Competition Policy
Pages: 144
Publication Date: 16 November 2017
Recommended Age: From 18 years
Audience: Professional and scholarly , Undergraduate
Format: Hardback
Publisher's Status: Active

Joseph E. Harrington, Jr., is Patrick T. Harker Professor in the Department of Business Economics and Public Policy at the Wharton School at the University of Pennsylvania.