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Acemoglu, Daron - 2006

We study the efficiency of oligopoly equilibria in a model where firms compete over capacities and prices. The … demands across the firms. We first establish the existence of pure strategy subgame perfect equilibria (oligopoly equilibria … oligopoly equilibria of this game can be arbitrarily low. However, if the best oligopoly equilibrium is selected (among multiple …

Persistent link: https://www.econbiz.de/10012465855

Dynamic Price Competition with Capacity Constraints

Betancourt, Jose M.; Hortaçsu, Ali; Öry, Aniko; … - National Bureau of Economic Research - 2024

We study dynamic price competition between sellers offering differentiated products with limited capacity and a common sales deadline. In every period, firms simultaneously set prices, and a randomly arriving buyer decides whether to purchase a product or leave the market. Given remaining...

Persistent link: https://www.econbiz.de/10014635636

A Dynamic Oligopoly with Collusion and Price Wars

Fershtman, Chaim - 1999

Most of the theoretical work on collusion and price wars assumes identical firms and an unchanging environment, assumptions which are at odds with what we know about most industries. Further that literature focuses on the impact of collusion on prices. Whether an industry can support collusion...

Persistent link: https://www.econbiz.de/10012471871

Estimating Dynamic Games of Oligopolistic Competition : An Experimental Investigation

Salz, Tobias - 2020

We evaluate dynamic oligopoly estimators with laboratory data. Using a stylized en-try/exit game, we estimate …

Persistent link: https://www.econbiz.de/10012479289

Dynamic Oligopoly Pricing with Asymmetric Information : Implications for Horizontal Mergers

Sweeting, Andrew; Tao, Xuezhen; Yao, Xinlu - National Bureau of Economic Research - 2021

We model differentiated product pricing by firms that possess private information about serially-correlated state variables, such as their marginal costs, and can use prices to signal information to rivals. In a dynamic game, signaling can raise prices significantly above static complete...

Persistent link: https://www.econbiz.de/10012496143

Competition and Efficiency in Congested Markets

Acemoglu, Daron - 2005

We study the efficiency of oligopoly equilibria in congested markets. The motivating examples are the allocation of …

Persistent link: https://www.econbiz.de/10012467484

An Aggregative Games Approach to Merger Analysis in Multiproduct-Firm Oligopoly

Nocke, Volker - 2018

Using an aggregative games approach, we analyze horizontal mergers in a model of multiproduct-firm price competition with nested CES or nested logit demands. We show that the Herfindahl index provides an adequate measure of the welfare distortions introduced by market power, and that the induced...

Persistent link: https://www.econbiz.de/10012453139

Does Strategic Ability Affect Efficiency? Evidence from Electricity Markets

Hortaçsu, Ali - 2017

Oligopoly models of short-run price competition predict that large firms can exercise market power and generate …

Persistent link: https://www.econbiz.de/10012455156

Nonlinearities and the Macroeconomic Effects of Oil Prices

Hamilton, James D. - 2010

This paper reviews some of the literature on the macroeconomic effects of oil price shocks with a particular focus on possible nonlinearities in the relation and recent new results obtained by Kilian and Vigfusson (2009)

Persistent link: https://www.econbiz.de/10012462470

Heterogeneous Wealth Dynamics : On the Roles of Risk and Ability

Santos, Paulo - 2016

This paper studies the causal mechanisms behind persistent poverty. Using original data on Boran pastoralists of southern Ethiopia, we find that heterogeneous and nonlinear wealth dynamics arise purely in adverse states of nature. In favorable states, expected herd grow is quasi-linear and...

Persistent link: https://www.econbiz.de/10012456054

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