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The dynamics of a Bertrand duopoly with differentiated products and bounded rational firms revisited
Fanti, Luciano; Gori, Luca - Dipartimento di Economia e Management, Università … - 2011
with bounded rationality. Chaos, Solitons and Fractals 39, 2048–2055), by introducing sound microeconomic foundations. We … study how an increase in the relative degree of product differentiation affects the stability of the unique positive … on initial conditions and Lyapunov exponents), we find that a “quasi-periodic” route to chaos and a large gamma of …
Persistent link: https://www.econbiz.de/10009293635
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The dynamics of a Bertrand duopoly with differentiated products and bounded rational firms revisited
Fanti, Luciano; Gori, Luca - Volkswirtschaftliche Fakultät, … - 2011
with bounded rationality. Chaos, Solitons and Fractals 39, 2048–2055), by introducing sound microeconomic foundations. We … study how an increase in the relative degree of product differentiation affects the stability of the unique positive … on initial conditions and Lyapunov exponents), we find that a “quasi-periodic” route to chaos and a large gamma of …
Persistent link: https://www.econbiz.de/10009294609
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On the role of consumer expectations in markets with network effects
Suleymanova, Irina; Wey, Christian - 2010
We analyze the role of consumer expectations in a Hotelling model of price competition when products exhibit network effects. Expectations can be strong (stubborn), weak (price-sensitive) or partially stubborn (a mix of weak and strong). As a rule, the price-sensitivity of demand declines when...
Persistent link: https://www.econbiz.de/10008736175
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Competition in the presence of individual demand uncertainty
Möller, Marc; Watanabe, Makoto - 2013
This paper sheds light on a recent empirical controversy about the effect of competition on price discrimination in airline markets (Borenstein and Rose (1994), Gerardi and Shapiro, (2009)). We introduce individual demand uncertainty into Hotelling’s model of horizontal product differentiation...
Persistent link: https://www.econbiz.de/10010226097
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Price competition on graphs
Heijnen, Pim; Soetevent, Adriaan - 2014
This paper extends Hotelling's model of price competition with quadratic transportation costs from a line to graphs. We derive an algorithm to calculate firm-level demand for any given graph, conditional on prices and firm locations. These graph models of price competition may lead to spatial...
Persistent link: https://www.econbiz.de/10010412476
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Market structure and advance selling
Möller, Marc; Watanabe, Makoto - 2016
When products are sold in advance, i.e. prior to consumption, consumers trade off an early, uninformed purchase at a low price against a late, informed purchase at a high price. This paper considers the effect of market structure on the prevalence of advance selling. We show that in an...
Persistent link: https://www.econbiz.de/10011446893
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Price competition on graphs
Soetevent, Adriaan R. - 2011
This paper extends Hotelling's model of price competition with quadratic transportation costs from a line to graphs. I propose an algorithm to calculate firm-level demand for anygiven graph, conditional on prices and firm locations. These graph models of price competitionmay lead to spatial...
Persistent link: https://www.econbiz.de/10011382641
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Price Competition on Graphs
Soetevent, Adriaan R. - 2010
This paper extends Hotelling's model of price competition with quadratic transportation costs from a line to graphs. I propose an algorithm to calculate firm-level demand for any given graph, conditional on prices and firm locations. One feature of graph models of price competition is that...
Persistent link: https://www.econbiz.de/10013135139
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Price Competition on Graphs
Heijnen, Pim - 2014
This paper extends Hotelling's model of price competition with quadratic transportation costs from a line to graphs. We derive an algorithm to calculate firm-level demand for any given graph, conditional on prices and firm locations. These graph models of price competition may lead to spatial...
Persistent link: https://www.econbiz.de/10013046379
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Advance selling in the wake of entry
Ceschi, Nadia; Möller, Marc - 2021
This article provides a tractable model of inter-temporal price-discrimination by heterogeneous firms, imperative for our understanding of advance purchase markets in the wake of entry. The pricing schedule of a more efficient entrant is found to differ systematically from the pricing schedule...
Persistent link: https://www.econbiz.de/10012548537