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In this paper we extend the model of vertical product differentiation to also consider information disparities about the extent of quality differences. Equilibrium prices turn out to depend not only on the share of informed consumers but also on uninformed consumers beliefs about quality...
Persistent link: https://www.econbiz.de/10005385350
We develop a model of strategic networks in order to analyze how trade unions will affect the stability and efficiency … of R&D collaboration networks in an oligopolistic industry with three firms. Whenever firms settle wages, the complete … network. Thus, a conflict between stability and efficiency may occur: efficient networks are pairwise stable, but the reverse …
Persistent link: https://www.econbiz.de/10005423183
under strong market rivalry a conflict between stable and efficient networks is likely to occur. A key finding of the paper …
Persistent link: https://www.econbiz.de/10004965187
equilibrium espionage networks and networks that maximize social welfare under the most interesting scenario of diseconomies of …
Persistent link: https://www.econbiz.de/10008674337
stable networks for the general linear quadratic game. For the case of correlated signals, we study pair-wise stable networks …
Persistent link: https://www.econbiz.de/10010665515
dimension of the fringe such that collusion is a Nash equilibrium of the static game. …
Persistent link: https://www.econbiz.de/10005423128
agreement. I obtain that collusion is easier to sustain the larger the cartel is. Then, I explore the implications of this …, they risk that collusion completely collapses, as remaining cartel members are unable to sustain collusion. …
Persistent link: https://www.econbiz.de/10005385360
affected by tacit collusion or price manipulation when the corresponding polluting product market is oligopolistic. We analyze …
Persistent link: https://www.econbiz.de/10011162046
The important role of friends, neighbors and colleagues in shaping individual choices has been brought out in a number of studies over the years. The presence of significant ‘local’ influence in shaping individual behavior suggests that firms, governments and developmental agencies should...
Persistent link: https://www.econbiz.de/10005423135
In many cases consumers cannot observe firms’ investment in quality or safety, but have only beliefs on the average quality of the industry. In addition, the outcome of the collective investment game of the firms may be stochastic since firms cannot control perfectly the technology or external...
Persistent link: https://www.econbiz.de/10010833913