The effectiveness and stability of highway bid-rigging

The idea that fewness of numbers (structure) may facilitate tacit or overt collusion in a market (conduct) is hardly new to industrial organization economists. In 1974, Leonard Weiss surveyed the already large literature on the concentration-profits relationship (Weiss, 1974). His survey highlighted the emerging debate over the exact mechanisms linking structure and performance. Weiss continued to investigate the structure-performance relationship in Concentration and Price (1989) by assembling a wide array of studies investigating the theme of the book's title.