中文摘要
近期揭露的众多卡特尔沿供应链运作，由供应链一端的企业为另一端的企业合谋提供便利，即所谓的轴辐式安排。这些卡特尔难以得到合理解释，因为它们会造成双重边际化和更高的成本。我们考察了加拿大涉嫌存在的面包卡特尔，并首次对轴辐式合谋进行了全面分析。利用法院文件和定价数据，我们作出三项贡献：(i) 表明合谋是有效的，使通货膨胀率提高了约50%；(ii) 提供证据表明供应链两端均存在合谋；(iii) 构建一个模型，解释为何会出现这种形式的合谋。(JEL E31, K21, L12, L14, L22, L42, L81)
Abstract
Numerous recently uncovered cartels operated along the supply chain, with firms at one end facilitating collusion at the other—hub-and-spoke arrangements. These cartels are hard to rationalize because they induce double marginalization and higher costs. We examine Canada’s alleged bread cartel and provide the first comprehensive analysis of hub-and-spoke collusion. Using court documents and pricing data, we make three contributions: (i) we show that collusion was effective, increasing inflation by about 50 percent; (ii) we provide evidence that collusion existed at both ends of the supply chain; and (iii) we develop a model explaining why this form of collusion arose. (JEL E31, K21, L12, L14, L22, L42, L81)