Gu, Yiquan; Hehenkamp, Burkhard - Rheinisch-Westfälisches Institut für … - 2010
Including the entry decision in a Bertrand model with imperfectly informed consumers, we introduce a trade-off at the level of social welfare. On the one hand, market transparency is beneficial when the number of firms is exogenously given. On the other, a higher degree of market transparency...