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-as then firms want to limit the competition in the toll stage by setting lower capacities-or when firms set capacities one … capacities. In our Stackelberg competition, the firms that act last have few if any capacity decisions to influence. Hence, they … are more concerned with the toll competition substage, and set a higher volume/capacity ratio than the public operator …
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In the expansionary phase of the economy (1995-2007) and, particularly after the Euro introduction, credit to the business sector increased significantly in Europe. According to surveys of the EC-Flash Eurobarometer (2005), over 77% of SMEs claimed to have appropriate funding levels. A number of...
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We analyze the effects of consumers' limited attention on welfare in a model of horizontal product differentiation. We present a novel approach of modeling limited attention: an attention radius. Each consumer only notices goods that are within her attention radius, i.e., goods that are...
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