"Robert Marshall and Leslie Marx bring to this book a deep understanding of the scholarly body of research and an intimate and broad knowledge of actual cartels and collusive practices. While there are many scholars who possess the former, and many practitioners who possess the latter, it is a rare few who are in possession of both sources of insight. The Economics of Collusion delivers one of the most comprehensive and instructive studies of cartels ever written."--Joseph Harrington, Johns Hopkins University
"Professors Robert Marshall and Leslie Marx have produced a real gem. Their new book not only explains the challenges that face potential colluders, but the private and social costs of their actions. This is a must read… economic theory, empirics, and storytelling at its very best." --Michael R. Baye, Kelley School of Business; Former Director of the Bureau of Economics Federal Trade Commission
"This book provides a very accessible introduction to the economics of collusion. A unique feature is its use of narrative description to demonstrate the inner workings of cartels. The narratives are based on actual cases, which makes the book highly engaging and entertaining. This is a valuable resource for anyone who is interested in the topic."--Jay Pil Choi, Department of Economics, Michigan State University
"Using an approach that is both intuitive and meticulous, Robert Marshall and Leslie Marx do a wonderful job explaining how cartels and bidding rings function. Students and practitioners will enjoy reading this informative, innovative, and well-written book."--Paolo Buccirossi, Director and Founder of Lear, Rome
About the Author
Leslie M. Marx, a former Chief Economist at the U.S. Federal Communication Commission, is Robert A. Bandeen Professor of Economics at the Fuqua School of Business at Duke University.