In this paper we establish a complete characterization of the strategic interaction of firms in sequential entry models. The limit price plays an important coordinating role in non-cooperative sequential entry models. We show that for many firms in a large range of sequential entry equilibria,...

This paper examines market failure in a monopolistically competitive industry with differentiated products. The set of products sold and prices are compared between monopolistic competition and a social optimum. The industry is asymmetric as products differ in their objective characteristics....

We re-examine the regulatory role of a public firm in an environment of private but correlated information about industry costs. We study three regimes of mixed market interaction involving both public and private firms: a symmetric Bayesian-Nash equilibrium, an asymmetric Bayesian equilibrium...