Cooperation and Efficiency in Markets

• Main Author: Horniacek, Milan (Author)
• Corporate Author: SpringerLink (Online service)
• Format: Electronic eBook
• Language: English
• Published: Berlin, Heidelberg : Springer Berlin Heidelberg : Imprint: Springer, 2011.
• Series: Lecture Notes in Economics and Mathematical Systems, 649
• Subjects: Game theory.; Economic theory.; Microeconomics.; Industrial organization.; Economic policy.; Economics.; Economic Theory/Quantitative Economics/Mathematical Methods.; Industrial Organization.; Economic Policy.; Game Theory, Economics, Social and Behav. Sciences.

The book deals with collusion between firms on both sides of a market that is immune to deviations by coalitions. We study this issue using an infinitely countably repeated game with discounting of future single period payoffs. A strict strong perfect equilibrium is the main solution concept that we...