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We address a generic price competition model in an industry with an arbitrary number of competitors, each offering all or a subset of a given line of N products. The products are substitutes in the sense that the demand volume of each product weakly increases whenever the price of another...
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There is not a day goes by without a passionate debate concerning Big Tech companies; while the main concern of governments seems to be related to social justice, a growing worry is associated with the consequences that large firms have on consumer welfare; nowadays these big entities engage in...
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Crowd-sourced recommender platforms organize social learning about products by recommending items based on information … study how market structure affects experimentation, social learning, and welfare. I present a model of competing platforms …
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We study learning in perfect competition. A price-taking firm sells a good whose quality is unknown to some buyers. The … uninformed buyers use the price to infer information about quality. The presence of noise on the supply prevents perfect learning … learning process of the uninformed buyers …
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