By Fredric T Howard (ed.)
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Additional info for Applications of fibonacci numbers : volume 8 : proceedings of 'The Eighth International Research Conference on Fibonacci Numbers and Their Applications', Rochester Institute of Technology, Rochester, New York, U.S.A., June 22-26, 1998
Of course, it is not clear why cartel ﬁrms should not make excessive proﬁts if they could defend the proﬁts against entry. 13 Were the Agreements Effective? The lack of excessive proﬁts does not mean that the agreements were not effective. The effectiveness of an agreement depended on two factors: the extent to which the parties conformed to the agreement or accepted the recommendations,14 and the extent of competition from outside ﬁrms, domestic or foreign. Evidence on these issues comes from various sources, including the agreements registered under the 1956 Act; the Monopolies and Restrictive Practices 12.
In nearly all collusive R&Dintensive industries that performed some joint R&D, such as watertube boilers, telephone exchange equipment, or electrical machinery, the budget of the joint research department was only a small fraction of the individual ﬁrms’ research budgets. For most other collusive R&D-intensive industries, there is no mention of any R&D cooperation at all. It would also be misleading to put too much emphasis on the informal exchange of technical information and know-how, for this often occurred in industries that were not technologically progressive or related only to basic research and not to product development.
30 Chapter 2 dustry, and the debate largely focused on the issue of the impact of the removal of the minimum price scheme on the structure of the industry, and hence on employment. The association convinced the Court that the removal of the price restrictions would be detrimental to employment in speciﬁc areas of the country. At the same time, the Court accepted the Registrar’s view that the agreement had resulted in prices higher than those that would have prevailed under competition, and had allowed the survival of inefﬁcient producers and the maintenance of excess capacity in the industry, all of which were against the public interest.
Applications of fibonacci numbers : volume 8 : proceedings of 'The Eighth International Research Conference on Fibonacci Numbers and Their Applications', Rochester Institute of Technology, Rochester, New York, U.S.A., June 22-26, 1998 by Fredric T Howard (ed.)