structure of the sellers' information and, even more importantly, on the intensity of competition allowed by the trading rules …. When there is intense competition (absence of clienteles), information is fully and immediately revealed to the buyers in … arrangements characterized by less intense forms of competition (presence of clienteles), for any n we always have equilibria where …

structure of the sellers' information and, even more importantly, on the intensity of competition allowed by the trading rules …. When there is intense competition (absence of clienteles), information is fully and immediately revealed to the buyers in … arrangements characterized by less intense forms of competition (presence of clienteles), for any n we always have equilibria where …

structure of the sellers? information and, even more importantly, on the intensity of competition allowed by the trading rules …. When there is intense competition (absence of clienteles), information is fully and immediately revealed to the buyers in … arrangements characterized by less intense forms of competition (presence of clienteles), for any n we always have equilibria where …

structure of the sellers’ information and, even more importantly, on the intensity of competition allowed by the trading rules …. When there is intense competition (absence of clienteles), information is fully and immediately revealed to the buyers in … arrangements characterized by less intense forms of competition (presence of clienteles), for any n we always have equilibria where …