منابع مشابه
Competition among auctioneers in large markets
We analyse a multistage game of competition among auctioneers. First, the auctioneers commit to some reserve prices; second, the bidders enter one auction, if any; and finally, the auctions take place. We show that for any finite set of feasible reserve prices, each auctioneer announces a reserve price equal to his production cost if the numbers of auctioneers and bidders are sufficiently large...
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We study a model where retailers endogenously engage in both promotional advertising to attract loyal customers as well as informational advertising, which consists of deciding whether and what price to list on a price comparison site. We derive a symmetric subgame perfect equilibrium of the model and study the limiting properties of equilibrium prices, promotion, and listing decisions as the n...
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Firms seeking business opportunities often face corruptible agents in many markets. This paper investigates the marketing strategy implications for firms competing for business, and for the buyer in a corruptible market. We consider a setting in which a buyer (a firm or government) seeks to purchase a good through a corruptible agent. Supplier firms that may or may not be a good fit compete to ...
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Standard policies to correct market power and selection can be misguided when these two forces co-exist. Using a calibrated model of employer-sponsored health insurance, we show that the risk adjustment commonly used by employers to offset adverse selection often reduces the amount of high-quality coverage and thus social surplus. Conversely, in a model of subprime auto lending calibrated to Ei...
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When competition occurs in a market, firms strive to attract business by meeting the needs of consumers more effectively than their competitors. This is mutually beneficial to consumers and firms. Competition provides consumers with low prices, high quality, wide variety, and innovative products. Firms are rewarded with more business and higher profits, presuming they provide better goods and s...
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ژورنال
عنوان ژورنال: Journal of Applied Econometrics
سال: 2010
ISSN: 0883-7252
DOI: 10.1002/jae.1155