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Collusive Pricing With Incomplete Information, Chantale Lacasse
Collusive Pricing With Incomplete Information, Chantale Lacasse
Digitized Theses
Fudenberg and Maskin (1986) find that any feasible and individually rational payoff can be supported by subgame perfect equilibrium strategies in an infinitely repeated game with complete information, if the discount rate is low enough. An analogous result holds for the case of finitely repeated games (Benoi t and Krishna (1985)).;These results imply that, if a cartel forms, it will have no difficulty maintaining its collusive agreement. The first part of the thesis investigates when agents choose to collude given the benefits of collusion (cooperative payoffs dominate non-cooperative payoffs) and its cost (agents risk government prosecution). We choose the context …
Evolving Policies And Institutional Arrangements In The Canadian Agri-Food Industry: An Analysis Of Differential Development Between The Dairy And Beef Livestock Sectors, Quentin P. Chiotti
Evolving Policies And Institutional Arrangements In The Canadian Agri-Food Industry: An Analysis Of Differential Development Between The Dairy And Beef Livestock Sectors, Quentin P. Chiotti
Digitized Theses
This thesis examines the evolving policies and institutional arrangements in the Canadian agri-food industry; specifically an analysis of differential development between the dairy and beef livestock sectors. Moving beyond the pluralist and other alternative explanations for the development of marketing boards, an integrative theoretical framework which incorporates a broader conceptual and theoretical approach was adopted to investigate the role of producers, agribusiness and the state in the agricultural policy-making process for each agri-food sector. Two specific periods of conflict were examined, which represented significant attempts to introduce a marketing board as a means to resolve a crisis that was afflicting …
Entrepreneurs, Growth And Cycles, Louis Corriveau
Entrepreneurs, Growth And Cycles, Louis Corriveau
Digitized Theses
We study how strategic considerations which pertain to the microeconomic process of innovation affect the macroeconomic process of growth and its efficiency. To a lesser extent, we also study how they may cause fluctuations to occur. We do this by the means of two models.;The first model pictures a one-good economy where long-run growth and output fluctuations are endogenous consequences of the decisions taken by entrepreneurs on the allocation of their resources between production and innovation in a Markovian sequence of one-period games. We show, first, that the log of output follows a process with random walk characteristics; second, that …
Two Essays In Real Business Cycle Theory, Paul A. Gomme
Two Essays In Real Business Cycle Theory, Paul A. Gomme
Digitized Theses
In the first chapter, a real business cycle model with heterogeneous agents is parameterized, calibrated, and simulated to see if it can account for some stylized facts characterizing postwar U.S. business cycle fluctuations, such as the countercyclical movement of labour's share of income, and the acyclical behaviour of real wages. There are two types of agents in the model, workers and entrepreneurs, who participate on an economy-wide market for contingent claims. On this market workers purchase insurance from entrepreneurs, through optimal labour contracts, against losses in income due to business cycle fluctuations. Optimal labour contracting is found to account, quantitatively, …
Essays On Hysteresis In Trade And Exchange Rate Pass-Through, Kong-Wing Chow
Essays On Hysteresis In Trade And Exchange Rate Pass-Through, Kong-Wing Chow
Digitized Theses
Chapter 1 of this thesis derives the long run general equilibrium of a home economy in a two-country overlapping generations model where agents' participation in production and the exchange rate are endogenous. We find that the presence of multiple equilibria is crucial for the existence of hysteresis defined as a change in the market structure of import or export markets, e.g. a change in the number of incumbent producers. With the presence of a positive network externality, the model will guarantee the possibility of hysteresis, i.e. multiple equilibria. Moreover, welfare is unambiguously increasing in the number of producers.;Chapter 2 applies …