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surplus-sharing and product differentiation, it is chosen by the second mover to avoid Bertrand competition. The equilibrium …
Persistent link: https://www.econbiz.de/10013208736
I present a game-theoretic model where economic competition and attention competition are interdependent. On the one … price competition among all perceived firms. On the other hand attracting attention involves costs which must be covered by … the earnings from competition. It is the task of this paper to clarify the consequences of such an interdependence between …
Persistent link: https://www.econbiz.de/10010316856
This paper explores how social interactions among consumers shape markets. In a two-country model, consumers meet and exchange information about the quality of the goods. As information spreads, the demands evolve, affecting the prices and quantities manufactured by profit-maximizing firms. We...
Persistent link: https://www.econbiz.de/10012501720
We study lobbying in a setting in which decision-makers share resources in a network. Two opposing interest groups …-makers' ideologies as well as the network structure. We characterize the lobbying strategies in various network settings and show that a … findings are consistent with empirically established lobbying activities. …
Persistent link: https://www.econbiz.de/10011927975
The Hotelling game of pure location allows interpretations in spatial competition, political theory, and professional … of competition in forecasting markets. …
Persistent link: https://www.econbiz.de/10011282501
We investigate how consumer information affects price adjustment in the Austrian retail gasoline market. Our measure of consumer information is obtained from detailed census data on commuting behavior, as commuters can freely sample prices on their commuting route and are thus better informed...
Persistent link: https://www.econbiz.de/10012662682
In this article, we provide a novel measure of product differentiation by observing consumer search behavior directly. We track individual consumers in a price search engine and generate a measure of distance in product space, based on goods surveyed conjointly within individual search episodes....
Persistent link: https://www.econbiz.de/10012662710
We consider nonlinear pricing policies that are designed by a social welfare maximizer who operates under a non … as, social welfare. …
Persistent link: https://www.econbiz.de/10013208477
groups and the increase in their intensity over time. Competition among fundamentalists makes them more extreme and may lead …
Persistent link: https://www.econbiz.de/10010318337
We study all-pay auctions with budget-constrained bidders who have access to fair insurance before bidding simultaneously over a prize. We characterize a unique equilibrium for the special cases of two bidders and one prize, show existence and a heuristic for finding an equilibrium in the case...
Persistent link: https://www.econbiz.de/10010294585