Bilateral oligopoly and quantity competition
نویسندگان
چکیده
منابع مشابه
Perfect competition in an oligopoly ( including bilateral
We show that if limit orders are required to vary smoothly, then strategic (Nash) equilibria of the double auction mechanism yield competitive (Walras) allocations. It is not necessary to have competitors on any side of any market: smooth trading is a substitute for price wars. In particular, Nash equilibria are Walrasian even in a bilateral monopoly.
متن کاملAn Introduction to Imperfect Competition via Bilateral Oligopoly
“It seems impossible to go on with analysing markets under the assumption of perfect competition. Direct observation of economic activity reveals that markets are the fields of “giants”, operating simultaneously with a fringe of small competitors. Even partial analysis has taken this picture of the market when proposing oligopoly solutions to describe the outcomes of imperfectly competitive mar...
متن کاملPerfect competition in an oligopoly (including bilateral monopoly)
We show that if limit orders are required to vary smoothly, then strategic (Nash) equilibria of the double auction mechanism yield competitive (Walras) allocations. It is not necessary to have competitors on any side of any market: smooth trading is a substitute for price wars. In particular, Nash equilibria are Walrasian even in a bilateral monopoly.
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Industries are rarely perfectly competitive. They also rarely comprise only firms who transact solely with consumers. Rather, in many industries—including health care, technology, media, and finance—firms are oligopolistic and negotiate terms of trade with one another across different market segments. Understanding how firms compete and interact in these vertical markets is critical not only fo...
متن کاملTechnological Competition, Uncertainty, and Oligopoly
In an oligopoly context the present technological choice of a firm which expects to receive private revelant information just prior to the uncertain market stage has both a flexibility value and a strategic commitmenr value. In contrast to some common wisdom ideas we provide a natural two-stage competition framework in which an increase in uncertainty always raises the commitment value of the t...
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ژورنال
عنوان ژورنال: Economic Theory
سال: 2011
ISSN: 0938-2259,1432-0479
DOI: 10.1007/s00199-011-0676-9