Many oligopolies exhibit continuing technological change and lumpy costs of adopting new technologies. If firms choose adoption dates in a game of timing and if the downstream market structure is a Bertrand duopoly, the equilibrium adoption pattern displays rent-dissipating increasing dominance,...

In a winner-take-all duopoly market for systems in which firms invest to improve their products, a vertically integrated monopoly supplier of an essential system component may have an incentive to advantage itself by technological tying; that is, by designing the component to work better in its...

Limited commitment causes inefficient production and source selecti on in a multistage procurement process wherein the contractor has privat e information about uncertain costs. A contractor's limited liability l eads a monopsonist to rely more on quantity distortions to extract rents. Moreover,...

The authors analyze how to award a monopoly franchise when the objective is to maximize expected consumers' surplus net of transfer payments to the producer. Potential producers initially possess independent private information about uncertain production costs. Only the chosen producer...

An economic definition of predation is applied to a dynamic model of duopoly competition with learning curves. It is shown that rational predation occurs in equilibrium, although below-cost pricing is neither a necessary nor a sufficient indicator of predation. A conceptual framework for...