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Robustness to strategic uncertainty in price competition
Andersson, Ola; Argenton, Cédric; Weibull, Jörgen - Economics Institute for Research (SIR), … - 2010
We model a player's uncertainty about other player's strategy choices as probability distributions over their strategy sets. We call a strategy profile robust to strategic uncertainty if it is the limit, as uncertainty vanishes, of some sequence of strategy profiles in each of which every...
Persistent link: https://www.econbiz.de/10008478921
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Strategic use of available capacity in the electricity spot market
Le Coq, Chloé - Economics Institute for Research (SIR), … - 2002
The literature on deregulated electricity markets generally assumes available capacities to be given. In contrast, this paper studies a model where firms precommit to capacity levels before competing in a uniform price auction. The analysis sheds light on recent empirical findings that firms use...
Persistent link: https://www.econbiz.de/10005423830
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Do Forward Markets Enhance Competition? Experimental Evidence
Le Coq, Chloé; Orzen, Henrik - Economics Institute for Research (SIR), … - 2002
compared to the increase in competitive pressure due to entry, the competition-enhancing effect of a forward market is weaker …
Persistent link: https://www.econbiz.de/10005190907
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Price-Wars in Finite Sequential Move Price Competition: The Role of Discounting
Wallner, Klaus - Economics Institute for Research (SIR), … - 2000
This paper characterizes the unique Markov equilibrium in the sequential move, finite horizon pricing duopoly with discounting. Simple, short cycles repeat until the last two periods. For discount factors above 0.75488, there are three-period reaction function cycles and below 0.75488,...
Persistent link: https://www.econbiz.de/10005649351
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Oligopoly and Limited Liability
Asplund, Marcus - Economics Institute for Research (SIR), … - 1995
This paper studies the strategic interaction on oligopolistic markets where firms have debt obligations. For sufficiently high (low) quantities (prices) of the competitors there exists no unique strategy that maximise equity holders payoff, since whatever quantity (price) an indebted firms sets,...
Persistent link: https://www.econbiz.de/10005649405
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Multimarket Contact, Concavity, and Collusion: on Extremal Equilibria of Interdependent Supergames
Spagnolo, Giancarlo - Economics Institute for Research (SIR), … - 1996
Following Bernheim and Whinston (1990), this paper addresses the effects of multimarket contact on firms ability to collude in repeated oligopolies. Managerial incentives, taxation, and financial market imperfections tend to make firms objective function strictly concave in profits and market...
Persistent link: https://www.econbiz.de/10005649430
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Long-Term Supply Contracts and Collusion in the Electricity Markets
Le Coq, Chloé - Economics Institute for Research (SIR), … - 2003
It has been argued that having a contract market before the spot market enhances competition (Allaz and Vila, 1993 …
Persistent link: https://www.econbiz.de/10005649462
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Endogenous Timing of Investments Yields Modified Stackelberg Outcomes
Bergman, Mats A. - Economics Institute for Research (SIR), … - 1998
This paper deals with capacity constrained price competition in a duopoly model. The model resembles that in Kreps and …
Persistent link: https://www.econbiz.de/10005423864
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Retail price levels and concentration of wholesalers, retailers, and hypermarkets
Asplund, Marcus; Friberg, Richard - Economics Institute for Research (SIR), … - 1999
This paper examines retail grocery price levels with a very large (unbalanced) panel of stores that operate in well-defined local markets. We explain price variation across grocery retailers by the concentration of wholesalers and retailers, and the market share of hypermarkets (and control for...
Persistent link: https://www.econbiz.de/10005190822
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Competition in Interrelated Markets: An Empirical Study
Asplund, Marcus; Sandin, Rickard - Economics Institute for Research (SIR), … - 1995
This paper studies competition in small, concentrated and inter- related markets. Our data set consists of price … structure influences competition. The results show that if prices in nearby markets are low, and the distances to them are short …, it reduces prices, as suggested in models of spatial competition. Moreover, we find that prices in closely located …
Persistent link: https://www.econbiz.de/10005190885