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Anton Badev

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Open access Sep 2026

Equilibrium in a Failed Cartel: Set-Valued Reactions and Sources of Market Asymmetry

We study a three-firm market following the breakdown of an initially complete cartel, taking both the breakdown and the identity of the departing firm as exogenously given. In the baseline model, the former cartel members no longer coordinate: all three firms choose quantities simultaneously and non-cooperatively. Thus...

Anton Badev, Vanya Ivanova, Diana Nedelcheva et al. · 0 citations

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