講座主題：Do Partial Ownership Interests Hinder Collusion?

主講嘉賓：秦承忠，加州大學聖芭芭拉分校經濟系

講座時間：2023年11月10日09:00-12:00

講座地點：線上騰訊會議：152-795-522

嘉賓簡介：秦承忠，加州大學聖芭芭拉分校經濟學教授，美國愛荷華大學經濟學博士，主要研究領域為産業經濟學、博弈論和信息經濟學等。在Journal of Economic Theory和Games and Economic Behavior等國際頂尖經濟學期刊上發表論文20餘篇，擔任Economic Theory、Economic Theory Bulletin和Frontiers of Economics in China的編委。

内容摘要：Partial ownership interests, whereby a firm acquires a share of a competitor's profits, have been growing prevalence across various industries. This paper demonstrates that instead of fostering collusion in repeated oligopolidtic competition with differentiated products, such partial ownership interests actually impede collusion. This effect holds true as long as the acquiring firms themselves are not subject to partial acquisition. The anti-collusive outcome underscores the importance of product differentiation as a critical determinant influencing the competive impact of partial ownership interests. Moreover, it provides a compelling rationale for why partial ownership interests do not raise antitrust concerns.