Historically antitrust practitioners believed it was easier to sustain collusion when participants encountered each other in multiple markets

a) Construct a simple game theoretic model in which participants meet in a single instance. Discuss the reasons why collusion is or is not a viable strategy.

b) How would your results in subpart (a) change if the participants encounter an indefinite number of times.

c) Will the outcome in subpart (b) change if the participants also encounter each other in multiple markets that all have equivalent features, ideally illustrating with mathematical models.

(d) Will the outcome in subpart (c) change if the participants encounter each other in multiple markets that have distinct features. Provide examples of how these features would differ, ideally illustrating with mathematical models.

(e) Do these models have implications with regard to New Brandesian thought and why or why not.