A Simple Spatial Model for Edgeworth Cycles

Maskin & Tirole (1998) formalise Edgeworth’s (1925) model of a dynamic equilibrium between two players where prices increase sharply and decrease slowly; the Edgeworth Cycle. Here, we present an application of the model, showing how Edgeworth Cycles might arise in a marketplace where spatial competition is important. We illustrate the approach using the example of retail gasoline markets where Edgeworth Cycles have been widely observed

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Year of publication:	2010
Authors:	Bloch, Harry ; Wills-Johnson, Nick
Publisher:	[S.l.] : SSRN

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Extent:	1 Online-Ressource (14 p)
Type of publication:	Book / Working Paper
Language:	English
Notes:	Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments February 24, 2010 erstellt
Other identifiers:	10.2139/ssrn.1558746 [DOI]
Classification:	C65 - Miscellaneous Mathematical Tools ; L13 - Oligopoly and Other Imperfect Markets ; L81 - Retail and Wholesale Trade; Warehousing
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10014197592