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Price Wars and the Stability of Collusion: A Study of the Pre-World War I Bromine Industry / Margaret Levenstein.
- Format:
- Book
- Author/Creator:
- Levenstein, Margaret.
- Series:
- Historical Working Paper Series (National Bureau of Economic Research) no. h0050.
- NBER historical working paper series no. h0050
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Other Title:
- Price Wars and the Stability of Collusion
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 1993.
- Summary:
- Bromine producers colluded to raise prices and profits during most of the period between 1885 and 1914. Collusion was punctuated by price wars in which prices fell sharply. The characteristics of these price wars are compared with those in the Green-Porter and Abreu- Pearce-Stachetti models. Some of the bromine price wars resulted from the imperfect monitoring problems in these models. Those price wars were short and mild. More severe price wars were part of a bargaining process, in which firms tried to force a renegotiation to a new collusive equilibrium with a different distribution of rents.
- Notes:
- Print version record
- September 1993.
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