Abstract
This note further characterizes the tacit collusion equilibria in the investmenttiming game of Boyer, Lasserre and Moreaux [1]. Tacit collusionequilibria may or may not exist, and when they do may involve either finitetime investments (type 1) or infinite delay (type 2). The relationshipbetween equilibria and common demand forms is not immediately apparent.We provide the full necessary and sufficient conditions for existence.A simple condition on demand primitives is derived that determines thetype of equilibria. Common demand forms are then shown to illustrateboth finite-time and infinite-delay tacit collusion.