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Negative externalities and equilibrium existence in competitive markets with adverse selection
von Siemens, Ferdinand; Kosfeld, Michael - 2009
on existing theories of competition in markets with adverse selection. …
Persistent link: https://www.econbiz.de/10010276700
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Optimal Procurement Contracts with Pre-€“Project Planning
Krähmer, Daniel; Strausz, Roland - 2010
The paper studies procurement contracts with pre-project investigations in the presence of adverse selection and moral …
Persistent link: https://www.econbiz.de/10010334134
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Negative and positive effects of competition in a preemption game
Suzuki, Toru - 2010
efficiency under mild competition. The effect of competition on the equilibrium strategy is different depending on which class of … show that the effect of competition on efficiency is different between the common value and the private value setting …. Strong competition leads to the least efficient equilibrium for the common value setting but efficiency can be improved by …
Persistent link: https://www.econbiz.de/10010281611
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Existence of a pure-strategy Bayesian Nash equilibrium in imperfectly discriminating contests
Wasser, Cédric - 2010
We consider a general class of imperfectly discriminating contests with privately informed players. We show that findings by Athey (2001) imply the existence of a Bayesian Nash equilibrium in monotone pure strategies.
Persistent link: https://www.econbiz.de/10010333804
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Imperfect Certification
Gu, Yiquan - 2008
competition does not necessarily hold. Segmentation equilibrium in which higher seller types choose the more expensive …
Persistent link: https://www.econbiz.de/10010264746
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Contests – A comparison of timing and information structures
Ludwig, Sandra - 2011
We study a model of imperfectly discriminating contests with two ex ante symmetric agents. We consider four institutional settings: Contestants move either sequentially or simultaneously and in addition their types are either public or private information. We find that an effort-maximizing...
Persistent link: https://www.econbiz.de/10010427595
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Regulation of an Open Access Essential Facility
Mitra, Manipushpak; Gautier, Axel - 2003
consumers. The regulator designs a mechanism that guarantees financing of the essential input and adequate competition in the …
Persistent link: https://www.econbiz.de/10010263090
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A nested contest: Tullock meets the all-pay auction
Amegashie, J. Atsu - 2012
I present a two-player nested contest which is a convex combination of two widely studied contests: the Tullock (lottery) contest and the all-pay auction. A Nash equilibrium exists for all parameters of the nested contest. If and only if the contest is sufficiently asymmetric, then there is an...
Persistent link: https://www.econbiz.de/10010289358
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The Economics of Credence Goods: On the Role of Liability, Verifiability, Reputation and Competition
Dulleck, Uwe; Kerschbamer, Rudolf; Sutter, Matthias - 2009
determinants for efficiency in credence goods markets. While theory predicts that either liability or verifiability yields … has little influence, as predicted. Seller competition drives down prices and yields maximal trade, but does not lead to …
Persistent link: https://www.econbiz.de/10010294835
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The economics of credence goods: on the role of liability, verifiability, reputation and competition
Dulleck, Uwe; Kerschbamer, Rudolf; Sutter, Matthias - 2009
determinants for efficiency in credence goods markets. While theory predicts that either liability or verifiability yields … has little influence, as predicted. Seller competition drives down prices and yields maximal trade, but does not lead to …
Persistent link: https://www.econbiz.de/10010271236