A Study of Carter Stability: The Joint Executive Committee, 1880-1886

Article Abstract:

The distinction between collusion and noncooperative behavior is examined for the railroad cartel from 1880 through 1886. An econometric model using time series price and quanity data show that noncooperative behavior occurred. This behavior attributed to change in demand. The frequency of non-cooperative behavior increased as market participants increased.

Analysis, History, Cartels, Railroad holding companies

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Joint Bidding, Information pooling, and the Performance of Petroleum Lease Auctions

Article Abstract:

A game theoretic bidding model is developed to assess the effect of joint bidding for offshore petroleum leases. Information pooling increases the social value of the leases and more accurate estimates of value. More aggressive bidding results from better informed bidders.

Models, Game theory

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Collusion and the Incentives for Information Sharing

Article Abstract:

Information sharing in a stochastic market is examined. Collusion is assumed to increase industry profit. Unfortunately, manual incentive to share information does not occur. Shared information produces anti-competitive environments.

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