Prices and Information under Imperfect Competition.
Imperfectly competitive product markets cannot be informationally efficient as private information has strategic implications interfering with price adjustment. This is illustrated in a duopoly model with sequential price setting where private information either leads to prices not being adjusted to all available information or to adjusted but biased prices. Copyright 1999 by Scottish Economic Society.
Year of publication: |
1999
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Authors: | Andersen, Torben M ; Hviid, Morten |
Published in: |
Scottish Journal of Political Economy. - Scottish Economic Society - SES. - Vol. 46.1999, 3, p. 245-59
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Publisher: |
Scottish Economic Society - SES |
Saved in:
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