Advances in Economics, Management and Political Sciences
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Proceedings of the 2nd International Conference on Financial Technology and Business Analysis
Series Vol. 54 , 01 December 2023
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Collusion in Repeated Game: The Issue and the Suggested Combating Strategy for International Cartel
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Abstract
The international cartel does not positively influence the world’s economy. It is inefficient to allocate resources by setting a very high price. This paper emphasizes one of the most famous examples of international cartels in the real world - OPEC and a possible international cartel in the future - GECF. Finding out the damages brought by OPEC and GECF, and the predicted damages brought by GECF in the future, highlight the negative impact it brings to call for governments’ attention on the cartel. Then, making some comparisons of OPEC and GECF will help to make different target strategies for them. Also, this paper provides some suggestions to combat international cartels, like standardizing the cartel’s definition and constructing a global jurisdiction organization to solve the cartel problems. Although there is a long way to go in combating international cartels, some actions are needed urgently to witness the increasing power of international cartels.
Keywords
collusion, OPEC, GECF, international cartel, law
References
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Data Availability
The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.
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- Volume Title
- Proceedings of the 2nd International Conference on Financial Technology and Business Analysis
- ISBN (Print)
- 978-1-83558-155-1
- ISBN (Online)
- 978-1-83558-156-8
- Published Date
- 01 December 2023
- Series
- Advances in Economics, Management and Political Sciences
- ISSN (Print)
- 2754-1169
- ISSN (Online)
- 2754-1177
- DOI
- 10.54254/2754-1169/54/20230877
- Copyright
- 01 December 2023
- Open Access
- This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited