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Merger Mechanisms
Brusco, Sandro; Lopomo, Giuseppe; Viswanathan, S. - 2004
's stand-alone value and a component of the synergies that would be realized by the merger involving his firm. We characterize …, hence transfers can be made contingent on the new information accruing after the merger. Second, we study the case of … identify necessary and sufficient conditions for the implementability of efficient merger rules. In the second case, we show …
Persistent link: https://www.econbiz.de/10011324884
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Multiple equilibria in markets and games
Jann, Ole - 2016
Persistent link: https://www.econbiz.de/10012503182
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A welfare comparison between export subsidies and exchange rate depreciation
Gschwandtner, Adelina - 1999
This paper develops a Bertrand Price Competition model with differentiated goods in which export subsidies are compared to exchange rate depreciation as different government policies for promoting exports. National governments may wish to help domestic firms to expand market shares in profitable...
Persistent link: https://www.econbiz.de/10010291912
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Risk classification and cream skimming on the deregulated German insurance market
Beschorner, Patrick F. E. - 2003
In a two-stage model insurance companies first decide upon risk classification and then compete in prices. I show that the observed heterogeneous behavior of similar firms is compatible with rational behavior. On the deregulated German insurance market individual application of classification...
Persistent link: https://www.econbiz.de/10010305756
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Dynamic Efficiency of Product Market Competition
Hinloopen, Jeroen; Vandekerckhove, Jan - 2007
We consider the efficiency of Cournot and Bertrand equilibria in a duopoly with substitutable goods where firms invest in process R&D. Under Cournot competition firms always invest more in R&D than under Bertrand competition. More importantly, Cournot competition yields lower prices than...
Persistent link: https://www.econbiz.de/10010325382
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Strategic R&D cooperatives
Hinloopen, Jeroen - 1998
Allowing firms to cooperate in their R&D is an industrial policy, which has received much attention in recent economics literature. Many of these contributions are based on the seminal analysis of d'Aspremont and Jacquemin (1988). We provide a general version of their model, which encompasses...
Persistent link: https://www.econbiz.de/10011608400
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Bertrand competition in markets with network effects and switching costs
Suleymanova, Irina; Wey, Christian - 2008
We analyze market dynamics under Bertrand duopoly competition in industries with network effects and consumer switching costs. Consumers form installed bases, repeatedly buy the products, and differ with respect to their switching costs. Depending on the ratio of switching costs to network...
Persistent link: https://www.econbiz.de/10010265013
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A network model of price dispersion
Pasini, Giacomo; Pin, Paolo; Weidenholzer, Simon - 2008
We analyze a model of price competition á la Bertrand in a network environment. Firms only have a limited information on the structure of network: they know the number of potential customers they can attract and the degree distribution of customers. This incomplete information framework...
Persistent link: https://www.econbiz.de/10010270965
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Profits in pure Bertrand oligopolies
Stähler, Frank - 1995
This paper demonstrates that the Bertrand paradox does not hold if cost functions are strictly convex. Instead, multiple equilibria exist which can be Pareto-ranked. The paper shows that the Pareto-dominant equilibrium may imply profus higher than in Cournot competition or may even sustain...
Persistent link: https://www.econbiz.de/10010275309
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Robustness to Strategic Uncertainty
Andersson, Ola; Argenton, Cédric; Weibull, Jörgen W. - 2012
In games with continuum strategy sets, we model a player's uncertainty about another player's strategy, as an atomless probability distribution over the other player's strategy set. We call a strategy profile (strictly) robust to strategic uncertainty if it is the limit, as uncertainty vanishes,...
Persistent link: https://www.econbiz.de/10010320409