Collusion Between Supply Chains under Asymmetric Information*
研究了制造商-零售商供应链在无限重复竞争中的合谋均衡，发现将前瞻性零售商纳入合谋方案可能促进或阻碍合谋，取决于高需求概率及高低需求差距。
This paper considers an infinitely repeated competition between manufacturer‐retailer supply chains. In every period, retailers privately observe the demand and manufacturers pay retailers ‘information rents’. I study collusive equilibria between the supply chains that may or may not involve the retailers. I find that including forward‐looking retailers in the collusive scheme may facilitate or hinder collusion, depending on the likelihood of a high demand and the gap between a high and a low demand. Moreover, collusion on monopoly profits can be easier or more difficult to implement than collusion on upstream profits.