Title

Optimal Cartel Equilibria with Imperfect Monitoring

Document Type

Discussion Paper

Publication Date

10-1-1984

CFDP Number

726

CFDP Pages

28

Abstract

There exist optimal symmetric equilibria in the Green-Porter model [5, 8] having an elementary intertemporal structure. Such an equilibrium is described entirely by two subsets of price space and two quantities, the only production levels used by firms in any contingency. The central technique employed in the analysis is the reduction of the repeated game to a family of static games.

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