00000cmm a22000005i 4500 UP-99796217611000238 Buklod 20230504003249.0 m go j cr |n |||auu|a 131120s xx d u 9783642197635 (eBook) (iLib)UPD-00206905193 DLC DML eng HD 41 H67 2011eb Horniacek, Milan Cooperation and efficiency in markets [electronic resource] by Milan Horniacek. Berlin, Heidelberg Springer Berlin Heidelberg c2011. 1 online resource (vii, 92 p.) Lecture notes in economics and mathematical systems 0075-8442 649 Introduction -- Model -- Existence of an SRPE and an SSPE -- Efficiency of an SRPE and an SSPE -- Afterword. IP-based subscription, on campus only. Access via Electronic Resources of the UPD University Library Website. 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 apply. It requires that no coalition of players in no subgame can weakly Pareto improve the vector of continuation average discounted payoffs of its members by a deviation. If the sum of firms' average discounted profits is maximized along the equilibrium path then the equilibrium output of each type of good is produced with the lowest possible costs. If, in addition, all buyers are retailers (i.e., they resell the goods purchased in the analyzed market in a retail market) then the equilibrium vector of the quantities sold in the retail market is sold with the lowest possible selling costs. We specify sufficient conditions under which collusion increases consumer welfare. Electronic reproduction. New York SpringerLink c2011. Available via World Wide Web through SpringerLink. Efficient market theory. Coopeation. Economics. Business. Markets Mathematical models. Oligopolies Mathematical models. Electronic books. SpringerLink (Online service). Springer eBooks. Lecture notes in economics and mathematical systems 0075-8442 649. Electronic Resource http://link.springer.com/book/10.1007/978-3-642-19763-5 Available for University of the Philippines Diliman via SpringerLink. Click here to access (viewed 15 April 2014) FO Monograph UPD DMLR Electronic Resource