House price trends in each of New Zealand and Australia are frequently discussed as national level developments. Sub … (differential income patterns) or by supply factors (geographical or regulatory restrictions). At a broader scale, it is possible … prices in Australia. One reason this could occur is if international macroeconomic and asset price trends dominate housing …

A Bayesian supply function equilibrium is characterized in a market where firms have private information about their … uncertain costs. It is found that with supply function competition, and in contrast to Bayesian Cournot competition …, competitiveness is affected by the parameters of the information structure: supply functions are steeper with more noise in the …

A finite number of sellers (n) compete in schedules to supply an elastic demand. The costs of the sellers have … uncertain common and private value components and there is no exogenous noise in the system. A Bayesian supply function …. Price-cost margins and bid shading are affected by the parameters of the information structure: supply functions are steeper …