Collusion and reciprocity in infinitely repeated games
This paper extends the standard industrial organization models of repeated interaction between firms by incorporating preferences for reciprocity. A reciprocal firm responds to unkind behavior of rivals with unkind actions (destructive reciprocity), while at the same time, it responds to kind behavi...
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| Format: | workingPaper |
| Language: | eng |
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2014
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| Online Access: | http://hdl.handle.net/10362/11859 |
| Country: | Portugal |
| Oai: | oai:run.unl.pt:10362/11859 |