Title
Collusion in Oligopoly: An Experiment on the Effect of Numbers and Information
Date of Original Version
5-1968
Type
Article
Published In
The Quarterly Journal of Economics (1968) 82 (2): 240-259.
Abstract or Table of Contents
Despite considerable scholarly effort, no theory has provided reliable predictions of price or output in oligopoly markets. Techniques have not been found which can unravel the complex interdependencies between firms. As long as the consequence of each firm's actions depend in large measure on the unknown reactions of other firms, rational behavior (for the firm) will be difficult to define.