| Publication type: | Conference other |
| Type of review: | No review |
| Title: | Do cartels undermine economic efficiency? |
| Authors: | Günster, Andrea |
| et. al: | No |
| Conference details: | 2nd Workshop: «Industrial Organization», Otranto, Italy, 23-24 June 2011 |
| Issue Date: | 2011 |
| Language: | English |
| Subject (DDC): | 338: Production |
| Abstract: | Cartel existence might evoke three types of inefficiencies according to economic theory: allocative, dynamic and x-inefficiency. We estimate the profitability of international cartels thereby testing for the allocative inefficiency hypothesis. Second, we assess dynamic inefficiency measured by considering investments into R&D. Third, we asses x-inefficiency by considering (labor) productivity. Our research analyzes firm-specific financial data for a sample of 143 firms involved in 50 European cartel infringements that took place between 1983 and 2004 involving internationally operating firms. Our findings support increased profitability showing a significant rise in return on assets during cartel years. Ringleaders are more profitable on average than other cartel members. R&D expenditures over sales and assets measuring dynamic efficiency decrease during the cartel period. Productive efficiency – measured as sales over employees – declines during the cartel phase indicating a “quiet life” effect. |
| URI: | https://digitalcollection.zhaw.ch/handle/11475/18349 |
| Fulltext version: | Published version |
| License (according to publishing contract): | Licence according to publishing contract |
| Departement: | School of Management and Law |
| Organisational Unit: | Center for Labor, Digital and Regional Economics (CLDR) |
| Appears in collections: | Publikationen School of Management and Law |
Files in This Item:
There are no files associated with this item.
Show full item record
Günster, A. (2011). Do cartels undermine economic efficiency? 2nd Workshop: «Industrial Organization», Otranto, Italy, 23-24 June 2011.
Günster, A. (2011) ‘Do cartels undermine economic efficiency?’, in 2nd Workshop: «Industrial Organization», Otranto, Italy, 23-24 June 2011.
A. Günster, “Do cartels undermine economic efficiency?,” in 2nd Workshop: «Industrial Organization», Otranto, Italy, 23-24 June 2011, 2011.
GÜNSTER, Andrea, 2011. Do cartels undermine economic efficiency? In: 2nd Workshop: «Industrial Organization», Otranto, Italy, 23-24 June 2011. Conference presentation. 2011
Günster, Andrea. 2011. “Do Cartels Undermine Economic Efficiency?” Conference presentation. In 2nd Workshop: «Industrial Organization», Otranto, Italy, 23-24 June 2011.
Günster, Andrea. “Do Cartels Undermine Economic Efficiency?” 2nd Workshop: «Industrial Organization», Otranto, Italy, 23-24 June 2011, 2011.
Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.