COMPETITION POLICY AND CARTEL SIZE
研究了竞争政策如何影响企业自发组建卡特尔，发现政策会减少大型稳定卡特尔的企业数量，小企业更可能退出，但对小型稳定卡特尔规模的影响不确定，甚至可能推高合谋价格。
This article examines endogenous cartel formation in the presence of a competition authority. Competition policy is shown to make the most inclusive stable cartels less inclusive. In particular, small firms that might have been cartel members in the absence of a competition authority are no longer members. Regarding the least inclusive stable cartels, competition policy can either decrease or increase their size and, in the latter case, the collusive price can rise.