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I've often thought that there is no need for collusion if you can exchange minimal information over public, legal channels and know how to work a strategy that
by digikata 15y ago
I've often thought that there is no need for collusion if you can exchange minimal information over public, legal channels and know how to work a strategy that assumes a modified prisoners dilemma. You can often see oil prices or airline tickets operating that way. E.g when one airline raises prices, then sees that no-one is following the rise, after which the price comes back down. Or everyone else is ready to raise prices and ticket prices go up.
- khafra 15y agoYup; if judges presiding over anti-trust suits had read Thomas Schelling's book The Strategy of Conflict, there would be many more broken-up oligopolies than there are now.