On the Workings of a Cartel: Evidence from the Norwegian Cement Industry
利用挪威水泥行业的价格、产量和出口数据，估算边际成本并评估卡特尔的有效性，发现卡特尔因分配规则导致过度生产和低于边际成本的出口而失效，消费者反而受益，且1968年合并为垄断反而提高了国内福利。
Using data on prices, production, and exports, we are able to identify marginal costs as well as the effectiveness of the Norwegian cement industry cartel. We find that our marginal cost estimates are very much in line with the detailed cost accounting data. We show that the cement cartel has been ineffective because the sharing rule induces “overproduction” and exporting below marginal costs. It is consumers — not firms — who benefit from the sharing rule. The ineffectiveness of the cartel was becoming so large that domestic welfare of a merger to monopoly would be positive around 1968, which is when the merger actually took place! We also show that competition would have resulted in even higher welfare gains over the entire sample.