> As long as this small number of talented firms isn't allowed to collude with each other, or self-deal unethically by controlling management ... and I've got

> As long as this small number of talented firms isn't allowed to collude with each other, or self-deal unethically by controlling management ... and I've got a bridge to sell you. More seriously though, the smaller the number of players, the more likely (and easy) collusion becomes. Successful cartels always have relatively few players.