Author: Trond E. OlsenPublisher:
ISBN:
Category :
Languages : no
Pages : 74
Book Description
Durable goods monopoly, learning by doing and coase conjecture
Differentiated Durable Goods Monopoly
Author: Francesco NavaPublisher:
ISBN:
Category : Durable goods, Consumer
Languages : en
Pages : 46
Book Description
The paper analyzes a durable good monopoly problem in which multiple varieties can be produced and sold. A robust Coase conjecture establishes that the market eventually clears, that profits exceed static optimal market-clearing profits, and that profits converge to this lower bound in all stationary equilibria when prices can be revised instantaneously. In contrast to the one-variety case though, equilibrium pricing is neither efficient nor minimal (that is, equal to the maximum between marginal cost an the minimal value). Conclusions apply even when products can be scrapped albeit at possibly smaller mark-ups. If so, a novel motive for selling high cost products naturally emerges. Moreover, with positive marginal costs, cross-subsidization arises as a result of equilibrium pricing. The online appendix delivers insights on product design.
Pacman Refutes the Coase Conjecture
Author: Mark BagnoliPublisher:
ISBN:
Category : Game theory
Languages : en
Pages : 18
Book Description
On Durable Goods Monopolies and the (anti-) Coase-conjecture
Author: Werner GüthPublisher:
ISBN:
Category : Game theory
Languages : en
Pages : 32
Book Description
Differential Games in Industrial Economics
Author: Luca LambertiniPublisher: Cambridge University Press
ISBN: 1316730700
Category : Business & Economics
Languages : en
Pages : 276
Book Description
Game theory has revolutionised our understanding of industrial organisation and the traditional theory of the firm. Despite these advances, industrial economists have tended to rely on a restricted set of tools from game theory, focusing on static and repeated games to analyse firm structure and behaviour. Luca Lambertini, a leading expert on the application of differential game theory to economics, argues that many dynamic phenomena in industrial organisation (such as monopoly, oligopoly, advertising, R&D races) can be better understood and analysed through the use of differential games. After illustrating the basic elements of the theory, Lambertini guides the reader through the main models, spanning from optimal control problems describing the behaviour of a monopolist through to oligopoly games in which firms' strategies include prices, quantities and investments. This approach will be of great value to students and researchers in economics and those interested in advanced applications of game theory.
The Durable Good Monopoly
Author: Kathleen SmithPublisher:
ISBN:
Category : Durable goods, Consumer
Languages : en
Pages : 72
Book Description
"This thesis empirically examined Microsoft and Disney and theoretically examined De Beers to determine if each firm's actions are consistent with the Coase Conjecture ... [which] states that a monopolistic producer of a durable good will forfeit power when the time between price adjustments approaches zero."--Abstract, leaf [ii].
Behavioral Norms, Technological Progress, and Economic Dynamics
Author: Ernst HelmstädterPublisher: University of Michigan Press
ISBN: 9780472107308
Category : Biography & Autobiography
Languages : en
Pages : 472
Book Description
Schumpeter was interested in dynamic economics rather than the economics of stagnation; in the economics of the creation of wealth rather than the economics of the redistribution of wealth; in the economics of technological innovation rather than the economics of industrial management. The major thrust of the volume, then, concerns studies of industrial change with emphasis both on analysis of the impact of innovation and on the interrelatedness of industries viewed through the process of innovation.
Coase Vs. Pacman
Author: Nils-Henrik Morch von der FehrPublisher:
ISBN:
Category : Commerce
Languages : en
Pages : 38
Book Description
Bargaining
Author: Emin KaragözoğluPublisher: Springer Nature
ISBN: 3030766667
Category : Business & Economics
Languages : en
Pages : 486
Book Description
This Edited Collection provides a rigorous and rich overview of current bargaining research in economics and related disciplines, as well as a discussion of future directions. The Editors create cross-disciplinary and cross-methodological synergies by bringing together bargaining researchers from various fields, including game theory, experimental economics, political economy, autonomous negotiations, artificial intelligence, environmental economics and behavioral operations management; as well as using various methods, including the strategic approach, axiomatic approach, empirical research, lab and field experiments, machine learning and decision support systems. Offering insights into the theoretical foundations of bargaining research, traditional applications to bargaining research and topics of growing importance due to new advances in technology and the changing political and physical landscape of the world, this book is a key tool for anyone working on or interested in bargaining.
Author: