Abstract

John J. Siegfried of Vanderbilt University and University of Adelaide reviews, “The Economics of Collusion: Cartels and Bidding Rings” by Robert C. Marshall and Leslie M. Marx. The EconLit Abstract of this book begins: “Presents an introduction to explicit collusion that examines what it is, why it is profitable, how it is implemented, and how it might be detected. Discusses collusion in practice; narrative of a cartel; narrative of a bidding ring; narrative of cartel detection; suppression of rivalry by cartels; implementation of collusion by cartels; beyond the suppression of within-cartel rivalry; suppression of interbidder rivalry by rings; implementation of collusion by rings; the effects of auction design on rings; plus factors; plus factors for rings; and coordinated efforts in horizontal mergers. Marshall is Liberal Arts Research Professor of Economics at Pennsylvania State University. Marx is Professor of Economics in the Fuqua School of Business at Duke University. Name, subject, and case indexes.”

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