The paper shows that, with any rationing mechanism between the efficient and proportional extremes, the Kreps-Scheinkman two-stage quantity-price game reduces to the Cournot model if demand is uniformly elastic and if all costs are sunk at the first stage, thus providing positive results to set...

It is possible, in principle, that the price-quantity pair generated by a model of imperfect competition may satisfy the conditions (voluntary trading and absence of frictions) for a fixprice equilibrium. It is shown that imperfect competitors will typically satisfy voluntary trading provided...

The article proposes a new “strategic market game” (SMG) approach to modeling strategic interactions between clubs in professional team sports leagues, and generalizes a basic framework used in previous literature (two clubs, fixed talent supply and club revenues that depend only on relative...