Rationnement, anticipations rationnelles et équilibres de Stackelberg
We consider a Stackelberg like duopoly in which the strategy space of the firms are price-quantity pairs, meaning that, at this price, a firm is willing to sell at most the supplied quantity. It is shown that, at the equilibrium, the leader will quote a price lower than the price quoted by the follower, and that, at the price he quotes, he will ration his demand. Hence we get a market structure in which price rigidities and persistent excess demand are immediate outcomes of the non-competitive behiavior of some agents.
Year of publication: |
1986
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Authors: | BOYER, Marcel ; MOREAUX, Michel |
Published in: |
Annales d'Economie et de Statistique. - École Nationale de la Statistique et de l'Admnistration Économique (ENSAE). - 1986, 1, p. 55-73
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Publisher: |
École Nationale de la Statistique et de l'Admnistration Économique (ENSAE) |
Saved in:
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