Synopses & Reviews
Synopsis
Excerpt from Collusive Price Leadership
In many industries pricing is characterized by price leadership: one of the firms announces a price change in advance of the date at which the new price will take effect and the new price is swiftly matched by the other firms in the industry. Strikingly, a long time elapses between price changes (often a year or more) and price changes are usually matched to the penny even when the products are differentiated.
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