00000nam 2200000za 4500 9.847809 CaOODSP 20221107153526 cr ||||||||||| 171127s2017 oncd #ob f000 0 eng d CaOODSP eng eng fre n-cn--- FB3-5/2017-51E-PDF Shcherbakov, Oleksandr. Identifying the degree of collusion under proportional reduction [electronic resource] / by Oleksandr Shcherbakov and Naoki Wakamori. Ottawa : Bank of Canada, 2017. ii, 48 p. : graphs Bank of Canada staff working paper, 1701-9397 ; 2017-51 "November 2017." Includes bibliographical references. "Proportional reduction is a common cartel practice in which cartel members reduce their output proportionately. We develop a method to quantify this reduction relative to a benchmark market equilibrium scenario and relate the reduction to the traditional conduct parameter. Our measure is continuous, allowing us to have an intuitive interpretation as the “degree of collusion” and nesting the earlier models in the existing literature. Furthermore, our methodology addresses Corts’ (1999) critique by estimating time-varying degree of collusion from a short panel of firm-level observations, exploiting firms’ ex post heterogeneity. We illustrate the method using the Joint Executive Committee railroad cartel data."--Abstract, p. ii. Text in English, abstract in English and French. gccst Industry analysis gccst Competition gccst Markets Wakamori, Naoki. Bank of Canada. Staff working paper (Bank of Canada) 1701-9397 ; 2017-51. (CaOODSP)9.806221 PDF 1.43 MB https://publications.gc.ca/collections/collection_2017/banque-bank-canada/FB3-5-2017-51-eng.pdf