Login per gli autori
Delbono, Flavio ; Lambertini, Luca
(2016)
On Globally Optimal Punishments in the Repeated Cournot Game.
Bologna:
Dipartimento di Scienze economiche DSE,
p. 19.
DOI 10.6092/unibo/amsacta/5483.
In: Quaderni - Working Paper DSE
(1091).
ISSN 2282-6483.
Full text disponibile come:
Anteprima |
Documento di testo(pdf)
Licenza: Creative Commons Attribution Non-commercial 3.0 (CC BY-NC 3.0) Download (601kB) | Anteprima |
Abstract
We challenge the global optimality of one-shot punishments in infinitely repeated games with discounting. Specifically, we show that the stick-and-carrot punishment à la Abreu (1986) may not be globally optimal. We prove our result by investigating tacit collusion in the infinite repetition of a linear Cournot game. We illustrate the existence of the stick-and-carrot globally optimal punishment for large cartels, and fully characterise it. Then, we show that for mall cartels, global optimality may be reached only with two-period punishments.
Abstract
Altri metadati
Statistica sui download
Statistica sui download
Gestione del documento:
