How do antitrust regimes impact on cartel formation and managers’ labor market? An experiment
dc.contributor.author | Fonseca, MA | |
dc.contributor.author | Gonçalves, R | |
dc.contributor.author | Pinho, J | |
dc.contributor.author | Tabacco, GA | |
dc.date.accessioned | 2022-11-14T11:47:08Z | |
dc.date.issued | 2022-11-12 | |
dc.date.updated | 2022-11-14T03:46:35Z | |
dc.description.abstract | We explore the impacts of different antitrust regimes on managers’ labor contracts, when shareholders are intent on their managers engaging in price fixing activities. We compare legal regimes that fine firms to regimes that prosecute managers. We build a theoretical model, which we take to the laboratory. We observe contract choices of shareholders for a given legal regime, as well as the probability of managers forming explicit cartels and coordinating on prices in a repeated Bertrand oligopoly, taking contract and legal regime as given. Our results suggest that there is less collusion when the legal regime prosecutes managers. High-powered contracts do not incentivize cartel formation or price coordination effectively, irrespective of legal regime. Nevertheless, high-powered contracts were most frequently chosen by shareholders, often with collusive intents. | en_GB |
dc.description.sponsorship | Fundação para a Ciência e Tecnologia | en_GB |
dc.format.extent | 643-662 | |
dc.identifier.citation | Vol. 204, pp. 643-662 | en_GB |
dc.identifier.doi | https://doi.org/10.1016/j.jebo.2022.10.031 | |
dc.identifier.grantnumber | UID/GES/00731/2013 | en_GB |
dc.identifier.uri | http://hdl.handle.net/10871/131770 | |
dc.identifier | ORCID: 0000-0002-5294-6784 (Fonseca, Miguel A) | |
dc.language.iso | en | en_GB |
dc.publisher | Elsevier | en_GB |
dc.rights | ©2022 The Author(s). Published by Elsevier B.V. This is an open access article under the CC BY license ( http://creativecommons.org/licenses/by/4.0/ ) | en_GB |
dc.subject | Cartel formation | en_GB |
dc.subject | Antitrust | en_GB |
dc.subject | Managerial compensation | en_GB |
dc.subject | Experiment | en_GB |
dc.title | How do antitrust regimes impact on cartel formation and managers’ labor market? An experiment | en_GB |
dc.type | Article | en_GB |
dc.date.available | 2022-11-14T11:47:08Z | |
dc.identifier.issn | 0167-2681 | |
dc.description | This is the final version. Available on open access from Elsevier via the DOI in this record | en_GB |
dc.description | Data availability: Data will be made available on request. | en_GB |
dc.identifier.journal | Journal of Economic Behavior & Organization | en_GB |
dc.relation.ispartof | Journal of Economic Behavior & Organization, 204 | |
dc.rights.uri | https://creativecommons.org/licenses/by/4.0/ | en_GB |
dcterms.dateAccepted | 2022-10-22 | |
rioxxterms.version | VoR | en_GB |
rioxxterms.licenseref.startdate | 2022-11-12 | |
rioxxterms.type | Journal Article/Review | en_GB |
refterms.dateFCD | 2022-11-14T11:44:30Z | |
refterms.versionFCD | VoR | |
refterms.dateFOA | 2022-11-14T11:47:18Z | |
refterms.panel | C | en_GB |
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Except where otherwise noted, this item's licence is described as ©2022 The Author(s). Published by Elsevier B.V. This is an open access article under the CC BY license ( http://creativecommons.org/licenses/by/4.0/ )