Effectiveness of Collusion under Antitrust Immunity: The Case of Liner Shipping211 Conferences

摘要

This study analyzes data from the ocean shipping industry to examine empirically211u001ewhether the provision of antitrust immunity for price-fixing agreements and the 211u001eestablishment of a costless mechanism for policing these agreements are 211u001esufficient to foster effective collusion when there are no regulatory 211u001erestrictions on entry. This study analyzes whether liner conferences in ocean 211u001eshipping act as effective cartels by testing empirically whether the rate 211u001estructure in ocean shipping is consistent with cost-based factors, the exercise 211u001eof market power by conferences, or the exercise of market power by firms in a 211u001emanner unrelated to the conference system.