Misconduct is widespread. Practices such as misselling, pump and dump, and money laundering cause harm while raising profits. This paper presents a mechanism that can determine what sorts of misconduct can be sustained in competitive equilibrium in concentrated markets, oligopoly settings, and markets with many small competing firms. The model studied allows general demand and distinguishes types of ethical dilemma using current psychological understanding. The paper shows, for example, that markets with many small competing firms are not vulnerable to misconduct if firms respond to entry with niche strategies or if the ethical dilemma draws an emotional response.

中文翻译：

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竞争和不当行为

不当行为很普遍。不当销售、哄抬物价和洗钱等行为在增加利润的同时也会造成损害。本文提出了一种机制，可以确定在集中市场、寡头垄断环境以及拥有许多小型竞争企业的市场中，哪些类型的不当行为可以维持在竞争均衡中。研究的模型允许一般需求，并利用当前的心理学理解来区分道德困境的类型。例如，该论文表明，如果企业以利基战略应对进入，或者道德困境引起情绪反应，那么拥有许多小型竞争企业的市场就不容易受到不当行为的影响。