Browsing by Title "An Anatomy of a Cartel: The National Industrial Recovery Act of 1933 and the Compliance Crisis of 1934"
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An Anatomy of a Cartel: The National Industrial Recovery Act of 1933 and the Compliance Crisis of 1934
(Research in Economic History, 2008)This paper explores the nature and causes of the cartel compliance crisis that befell the National Industrial Recovery Act (NIRA) one year after its passage in 1933. We employ a simple game-theoretic model of the NIRA's ...