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Achieving Intertemporal Efficiency and Symmetry through Intratemporal Asymmetry: (Eventual) Turn Taking in a Class of Repeated Mixed-Interest Games
Mui, Vai-Lam; Lau, Sau-Him Paul - Econometric Society - 2004
Turn taking is observed in many field and laboratory settings. We study when and how turn taking can be supported as an equilibrium outcome in a class of repeated games, where the stage game is a symmetric two-player mixed-interest game with asymmetric joint-payoff-maximizing outcomes that may...
Persistent link: https://www.econbiz.de/10005702715
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Merger Incentives and Inverse Matrices from Bertrand Competition
Howe, Eric; Zhao, Jingang - Econometric Society - 2004
This paper first inverts a general class of matrices for solving Bertrand equilibria from arbitrary coalition structures in linear Bertand oligopolies. It then studies merger incentives and obtains two main results; 1) for any asymmetric costs, mergers of any size are profitable; 2) a merger will...
Persistent link: https://www.econbiz.de/10005702656
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Competition between market-making Intermediaries
Loertscher, Simon - Econometric Society - 2004
We introduce capacity constrained competition between market-making intermediaries in a model in which agents can choose between trading with intermediaries, joining a search market or remaining inactive. Recently, market-making by a monopolistic intermediary has been analyzed by Rust and Hall...
Persistent link: https://www.econbiz.de/10005702658
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A WAY TO SELL GOODS WITH NETWORK EXTERNALITIES
SHICHIJO, Tatsuhiro; NAKAYAMA, Yuji - Econometric Society - 2004
There are a lot of goods which have network externalities. While the number of players who have such a good is small, they may not get enough utility from the goods. That is, players have an incentive to delay their decision, when they purchase the goods with network externalities. Delay causes...
Persistent link: https://www.econbiz.de/10005702752
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Coordination, Specialization and Incentives: An Equilibrium Model of Firm Boundaries
Mathewson, Frank; Horstmann, Ignatius J. - Econometric Society - 2004
This paper derives firm boundaries as the outcome of an equilibrium coordination mechanism. The analysis is premised on … perfectly competitive setting, this coordination activity is accomplished via a price mechanism that coordinates the decisions …, other mechanisms are required to achieve efficient coordination. We seek to explain the observation of firms and other …
Persistent link: https://www.econbiz.de/10005328943
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Social Interactions in a Synchronization Game
Paula, Aureo de - Econometric Society - 2004
This paper analyzes and structurally estimates a synchronization game. Agents take part in an activity and benefit from the participation of others. Coordinated actions are fruit of correlated effects as well as endogenous interactions. Standard tools applied in optimal stopping problems for...
Persistent link: https://www.econbiz.de/10005170255
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Matching and Price Competition
Levin, Jonathan; Bulow, Jeremy - Econometric Society - 2004
We develop a model in which firms set their salary levels before matching with workers. Wages fall relative to any competitive equilibrium while profits rise almost as much, implying little inefficiency. Furthermore, the best firms gain the most from the system while wages become compressed. We...
Persistent link: https://www.econbiz.de/10005328996
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The different consumption functions of products and product differentiation
Cheung, Waka; Ng, Yew-Kwang - Econometric Society - 2004
This paper develops a monopolistic competition model to study the characteristics of products, such as quality improvement and product diversity (function-specialization and individualization), and the division of labor in production. Different from the ordinary economic model, our utility...
Persistent link: https://www.econbiz.de/10005342157
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Optimal Pollution Tax in Cournot Oligopsonistic Oligopoly
Okuguchi, Koji - Econometric Society - 2004
Cournot oligopoly has been studied almost exclusively under the implicit assumption of perfectly competitive factor markets. However,oligopolistic firms procure often factors of production from imperfectly competitive markets. Okuguchi(1998,2000) has analyzed Cournot oligopoly under the...
Persistent link: https://www.econbiz.de/10005342168
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Does Input Sector Liberalization Promote Quality Innovation and Exports?
Acharyya, Rajat; Bandyopadhyay, Swapnendu - Econometric Society - 2004
This paper examines the relationship between input sector liberalization and product quality innovation and export orientation by a LDC firm given the complementarity between high input quality and high product quality. We show that input sector liberalization per se may not induce quality...
Persistent link: https://www.econbiz.de/10005086434