BIS Working Papers No 1089 Intraday liquidity around the world
Biliana Alexandrova, Anton Kabadjova, Saulo Benchimol Badev et al.
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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.
· Foundations · 0 citations