【Micro Seminar】Optimal Imperfect Collusion: Price Randomization and Favor Exchange in Cartels
2026/06/12
研討會日期 : 2026-06-12
時間 : 14:30
主講人 : Professor Jihwan Do
地點 : Conference Room B110
主持人 : Professor Kong-Pin Chen
演講者簡介 : Dr. Jihwan Do received his Ph.D. in Economics from the University of Rochester in 2021. He is currently an Assistant Professor at Yonsei University. His research interests are Economic Theory, Game Theory, and Industrial Organization.
演講摘要 : We analyze the sustainability of collusion in infinitely repeated symmetric first-price procurement auctions with complete information. We show that strategies combining on-path price randomization and continuation payoff rewards for losers enable collusion in this canonical model for a wider range of discount factors than previously recognized. Our theory can explain imperfect collusive bid rotation schemes as well as observed cartel behavior in which apparently deliberate deviations from collusive pricing happen and are followed by internal reallocations of future business rather than cartel breakdown.
