This paper studies the relationship between horizontal product differentiation and the welfare effects of third-degree price discrimination in oligopoly. By deriving linear demand from a representative consumer´s utility and focusing on the symmetric equilibrium of a pricing game, we...

This paper studies the relationship between horizontal product differentiation and the welfare effects of third-degree price discrimination in oligopoly. By deriving linear demand from a representative consumer's utility and focusing on the symmetric equilibrium of a pricing game, we...

We introduce a category that represents varying risk as well as uncertainty, and give a generalized conditional expectation as a contravariant functor on the category. Then, we reformulate dynamic monetary value measures as a contravariant functor on the category. We show some axioms of dynamic...