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On a homogeneous oligopoly market informed sellers are fully aware of market demand whereas uninformed sellers only know the distribution. We first derive the market results when sellers are risk averse, similarly to Ponssard (1979) who assumed risk neutrality throughout. With the help of these...
Persistent link: https://www.econbiz.de/10009612010
setting behavior is in general consistent with the theory. Capacities converge above the Cournot level. Sellers rarely manage …
Persistent link: https://www.econbiz.de/10009612564