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Noisy Signaling in Monopoly
Mirman, Leonard J.; Salgueiro, Egas; Santugini, Marc - Institut d'Économie Appliquée, HEC Montréal (École … - 2011
We study the informational role of prices in a stochastic environment. We provide a closed-form solution of the monopoly problem when the price imperfectly signals quality to the uninformed buyers. We then study the effect of noise on output, market price, information flows, and expected...
Persistent link: https://www.econbiz.de/10008876408
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The Simple Analytics of Price Signaling Quality
Mirman, Leonard J.; Santugini, Marc - Institut d'Économie Appliquée, HEC Montréal (École … - 2011
We present a diagrammatic and step-by-step analysis of price signaling quality. Because quality is a continuum on the …
Persistent link: https://www.econbiz.de/10008876409
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Noisy signaling in monopoly
Mirman, Leonard J.; Salgueiro, Egas M.; Santugini, Marc - In: International Review of Economics & Finance 29 (2014) C, pp. 504-511
We study the informational role of prices in a stochastic environment. We provide a closed-form solution of the monopoly problem when the price imperfectly signals quality to the uninformed buyers. We then study the effect of noise on output, market price, information flows, and expected...
Persistent link: https://www.econbiz.de/10010729770
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Information in Cournot: Signaling with incomplete control
Daher, Wassim; Mirman, Leonard J.; Santugini, Marc - In: International Journal of Industrial Organization 30 (2012) 4, pp. 361-370
We embed signaling in the classical Cournot model in which several firms sell a homogeneous good. The quality is known … quantity decision. We characterize the unique signaling Cournot equilibrium in which the price signals quality to the … uninformed buyers. We then compare the signaling Cournot equilibrium with the full-information Cournot equilibrium. Signaling is …
Persistent link: https://www.econbiz.de/10010573875
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The Informational Benefit of Price Discrimination
Gendron-Saulnier, Catherine; Santugini, Marc - Institut d'Économie Appliquée, HEC Montréal (École … - 2013
We consider a monopoly supplying a homogeneous good to two separate markets with different demands. In one of the markets, some buyers do not know the quality of the good, but learn about it from observing prices. Under noisy demand, third-degree price discrimination is shown to alter the...
Persistent link: https://www.econbiz.de/10010941047
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Information in Cournot: Signaling with Incomplete Control
DAHER, Wassim; MIRMAN, Leonard J.; Santugini, Marc - Institut d'Économie Appliquée, HEC Montréal (École … - 2009
We embed signaling in the classical Cournot model in which several firms sell a homogeneous good. The quality is known … quantity decision. We characterize the unique signaling Cournot equilibrium in which the price signals quality to the … uninformed buyers. We then compare the signaling Cournot equilibrium with the full-information Cournot equilibrium. Signaling is …
Persistent link: https://www.econbiz.de/10008483959
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The Informational Role of Prices
Mirman, Leonard J.; Santugini, Marc - Institut d'Économie Appliquée, HEC Montréal (École … - 2008
We study the informational role of prices. To that end, we consider the framework of a dominant firm with a competitive fringe. When the competitive fringe is large enough, there exists a unique fully revealing equilibrium, in which the price conveys full information about the quality of the...
Persistent link: https://www.econbiz.de/10005489841
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Information in Cournot : Signaling with Incomplete Control
Daher, Wassim - 2012
We embed signaling in the classical Cournot model in which several firms sell a homogeneous good. The quality is known … quantity decision. We characterize the unique signaling Cournot equilibrium in which the price signals quality to the … uninformed buyers. We then compare the signaling Cournot equilibrium with the full-information Cournot equilibrium. Signaling is …
Persistent link: https://www.econbiz.de/10013106683
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Noisy Signaling in Monopoly
Mirman, Leonard J. - 2013
We study the informational role of prices in a stochastic environment. We provide a closed-form solution of the monopoly problem when the price imperfectly signals quality to the uninformed buyers. We then study the effect of noise on output, market price, information flows, and expected...
Persistent link: https://www.econbiz.de/10013093809
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Noisy Signaling in Monopoly
Salgueiro, Egas M. - 2013
We study the informational role of prices in a stochastic environment. We provide a closed-form solution of the monopoly problem when the price imperfectly signals quality to the uninformed buyers. We then study the effect of noise on output, market price, information flows, and expected...
Persistent link: https://www.econbiz.de/10013071968