Skip navigation

Leslie M. Marx

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.

Titles by This Author

Cartels and Bidding Rings

Explicit collusion is an agreement among competitors to suppress rivalry that relies on interfirm communication and/or transfers. Rivalry between competitors erodes profits; the suppression of rivalry through collusion is one avenue by which firms can enhance profits. Many cartels and bidding rings function for years in a stable and peaceful manner despite the illegality of their agreements and incentives for deviation by their members.