Nonlinear Pricing in Asymmetric Duopoly PDF Download
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Author: Marco Alderighi
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Category :
Languages : en
Pages : 0
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We characterise, for both separate and interdependent markets, the local pure-strategies Nash equilibrium of a spatial duopoly game, where consumers are horizontally and vertically heterogeneous, and firms have different cost structures and ranges of product lines. We show that standard results which emerged in the monopoly context can not be generalised to strategic contexts where firms retain market power and there is sufficient competitive pressure. We prove that in the asymmetric duopoly case, when markets are interdependent, the incentive compatibility constraints are slack, and there is no quality distortion.
Author: Marco Alderighi
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
We characterise, for both separate and interdependent markets, the local pure-strategies Nash equilibrium of a spatial duopoly game, where consumers are horizontally and vertically heterogeneous, and firms have different cost structures and ranges of product lines. We show that standard results which emerged in the monopoly context can not be generalised to strategic contexts where firms retain market power and there is sufficient competitive pressure. We prove that in the asymmetric duopoly case, when markets are interdependent, the incentive compatibility constraints are slack, and there is no quality distortion.
Author: Piercarlo Zanchettin
Publisher:
ISBN:
Category : Duopolies
Languages : en
Pages : 32
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Author: Kai-Uwe Kühn
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Category :
Languages : en
Pages : 56
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Author: Gaurab Aryal
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Category :
Languages : en
Pages : 42
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We estimate a model of competitive nonlinear pricing with multidimensional preference heterogeneity using individual level data on advertisements bought by local businesses (e.g., doctors, electricians) from two Yellow Page Directories in one U.S. city-market. Variation in individual choices and payments allow us to identify the joint density of preferences, marginal costs of publishing and common utility parameters. Our estimates suggest substantial welfare loss due to asymmetric information. Comparing duopoly outcomes with (counterfactual) monopoly outcomes, we find that with less competition (i) producer surplus increases substantially; (ii) more “low-type” consumers are excluded; (iii) product variety increases, but benefits accrue only to the “high-type” consumers; (iv) total consumer surplus decreases; (v) but its distribution, across consumers, does not change.
Author: Kai-Uwe Kühn
Publisher:
ISBN:
Category : Commerce
Languages : en
Pages : 56
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Author: Yao Huang
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Category :
Languages : en
Pages : 144
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Author: Kangsik Choi
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Category :
Languages : en
Pages : 0
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We consider a mixed duopoly in which private and public firms can choose to strategically set prices or quantities when the public firm is less efficient than the private firm. Thus, even with cost asymmetry, we obtain exactly the same result (i.e., Bertrand competition) of Matsumura and Ogawa (2012) if Singh and Vives' (1984) assumption of positive primary outputs holds. However, compared to endogenous determination of the type of contract without cost asymmetry, our main finding is that in the wider range of cost asymmetry, different type(s) of equilibrium related to or not related to the limit-pricing strategy of the private firm can be sustained. Thus, when considering an implication on privatization, we may overestimate the welfare gain of privatization because Cournot competition takes place after privatization even though cost asymmetry exists between firms. While the result of Matsumura and Ogawa (2012) holds true if the goods are complements, we find the novel results in the case of substitutes.
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Author: Kai-Uwe Kühn
Publisher:
ISBN:
Category : Duopolies
Languages : en
Pages : 56
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Author: Asher Wolinsky
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Category :
Languages : en
Pages : 41
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Author: Per Svejstrup Hansen
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ISBN:
Category : Duopolies
Languages : en
Pages : 11
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