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Hotelling Bertrand Duopoly Competition Under Firm Specific Network Effects
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Book Synopsis Hotelling-Bertrand Duopoly Competition Under Firm-Specific Network Effects by : Marco Tolotti
Download or read book Hotelling-Bertrand Duopoly Competition Under Firm-Specific Network Effects written by Marco Tolotti and published by . This book was released on 2018 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: When dealing with consumer choices, social pressure plays a crucial role; also in the context of market competition, the impact of network/social effects has been largely recognized. However, the effects of firm-specific social recognition on market equilibria has never been addressed so far. In this paper, we consider a duopoly where competing firms are differentiated solely by the level of social (or network) externality they induce on consumers' perceived utility. We fully characterize the subgame perfect Nash equilibria in locations, prices and market shares. Under a scenario of weak social externality, the firms opt for maximal differentiation and the one with the highest social recognition has a relative advantage in terms of profits. Surprisingly, this outcome is not persistent; excessive social recognition may lead to adverse coordination of consumers: the strongest firm can eventually be thrown out of the market with positive probability. This scenario is related to a Pareto inefficient trap of no differentiation.
Book Synopsis Bertrand Competition in Markets with Network Effects and Switching Costs by : Irina Suleymanova
Download or read book Bertrand Competition in Markets with Network Effects and Switching Costs written by Irina Suleymanova and published by . This book was released on 2008 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Duopoly Competition with Network Effects in Discrete Choice Models by : Ningyuan Chen
Download or read book Duopoly Competition with Network Effects in Discrete Choice Models written by Ningyuan Chen and published by . This book was released on 2020 with total page 90 pages. Available in PDF, EPUB and Kindle. Book excerpt: We consider two firms selling products to a market of network-connected customers. Each firm is selling one product and the two products are substitutable. The customers make purchases based on the multinomial logit model and the firms compete for their purchasing probabilities. We characterize possible Nash equilibria for homogeneous network interactions and identical firms: when the network effects are weak, there is a symmetric equilibrium that the two firms evenly split the market; when the network effects are strong, there exist two asymmetric equilibria additionally, in which one firm dominates the market; interestingly, when the product quality is low and the network effects are neither too weak nor too strong, the resulting market equilibrium is never symmetric although the firms are ex ante symmetric. We extend these results along multiple directions. First, when the products have heterogeneous qualities, the firm selling inferior product can still retain market dominance in equilibrium due to the strong network effects. Second, when the network effects are heterogeneous, customers with higher social influences or larger price sensitivities are more likely to purchase either product in the symmetric equilibrium. Third, when the network consists of two communities, market segmentation may arise. Fourth, we extend to the dynamic game when the network effects build up over time to explain the first-mover advantage.
Book Synopsis Bertrand and Cournot Competition with Network Effects and Input Pricing Strategy by : Kangsik Choi
Download or read book Bertrand and Cournot Competition with Network Effects and Input Pricing Strategy written by Kangsik Choi and published by . This book was released on 2019 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: We revisit the endogenous choice of price or quantity made by two retailers in a vertical structure with a monopolistic manufacturer under network externalities when the retailers involve in centralized Nash bargaining with the two-part tariff contracts. When comparing integration to separation under Cournot and Bertrand competition, in contrast to conventional wisdom, we show that regardless of competition mode and the strength of network externalities, Pareto superiority can obtain under separation rather than under integration. Furthermore, we find the result that regardless of network externalities, Cournot emerges in equilibrium obtained under uniform input pricing, which is asserted to be in contrast with Basak and Wang (2016) showing that Bertrand emerges in equilibrium under discriminatory input pricing in the absence of network externalities. However, the irrelevance results hold in equilibrium: the levels of social welfare, retailers' and manufacturer's profits are equal irrespective of whether (i) input pricing strategy of the manufacturer with/without network externalities, or (ii) endogenous competition mode.
Book Synopsis Industrial Organization by : Paul Belleflamme
Download or read book Industrial Organization written by Paul Belleflamme and published by Cambridge University Press. This book was released on 2010-01-07 with total page 725 pages. Available in PDF, EPUB and Kindle. Book excerpt: Industrial Organization: Markets and Strategies provides an up-to-date account of modern industrial organization that blends theory with real-world applications. Written in a clear and accessible style, it acquaints the reader with the most important models for understanding strategies chosen by firms with market power and shows how such firms adapt to different market environments. It covers a wide range of topics including recent developments on product bundling, branding strategies, restrictions in vertical supply relationships, intellectual property protection, and two-sided markets, to name just a few. Models are presented in detail and the main results are summarized as lessons. Formal theory is complemented throughout by real-world cases that show students how it applies to actual organizational settings. The book is accompanied by a website containing a number of additional resources for lecturers and students, including exercises, answers to review questions, case material and slides.
Book Synopsis Discrete Choice Theory of Product Differentiation by : Simon P. Anderson
Download or read book Discrete Choice Theory of Product Differentiation written by Simon P. Anderson and published by MIT Press. This book was released on 1992 with total page 454 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The discrete choice approach provides an ideal framework for describing the demands for differentiated products and can be used for studying most product differentiation models in the literature. By introducing extra dimensions of product heterogeneity, the framework also provides richer models of firm location and product selection."--BOOK JACKET.
Book Synopsis Handbook of Industrial Organization by : Richard Schmalensee
Download or read book Handbook of Industrial Organization written by Richard Schmalensee and published by North Holland. This book was released on 1989-09-11 with total page 1002 pages. Available in PDF, EPUB and Kindle. Book excerpt: Determinants of firm and market organization; Analysis of market behavior; Empirical methods and results; International issues and comparision; government intervention in the Marketplace.
Download or read book Oligopoly Pricing written by Xavier Vives and published by MIT Press (MA). This book was released on 1999 with total page 446 pages. Available in PDF, EPUB and Kindle. Book excerpt: Applies a modern game-theoretic approach to develop a theory of oligopoly pricing. The text relates classic contributions to the field of modern game theory and discusses basic game-theoretic tools and equilibrium, paying particular attention to developments in the theory of supermodular games.
Book Synopsis Asymmetric Information and the Market Structure of the Banking Industry by : Mr.Giovanni Dell'Ariccia
Download or read book Asymmetric Information and the Market Structure of the Banking Industry written by Mr.Giovanni Dell'Ariccia and published by International Monetary Fund. This book was released on 1998-06-01 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper analyzes the effects of informational asymmetries on the market structure of the banking industry in a multi-period model of spatial competition. All lenders face uncertainty with regard to borrowers’ creditworthiness, but, in the process of lending, incumbent banks gather proprietary information about their clients, acquiring an advantage over potential entrants. These informational asymmetries are an important determinant of the industry structure and may represent a barrier to entry for new banks. The paper shows that, in contrast with traditional models of horizontal differentiation, the steady-state equilibrium is characterized by a finite number of banks even in the absence of fixed costs.
Book Synopsis The Economics of Network Industries by : Oz Shy
Download or read book The Economics of Network Industries written by Oz Shy and published by Cambridge University Press. This book was released on 2001-01-08 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book introduces upper-level undergraduates, graduate students, and researchers to the latest developments in network economics, one of the fastest-growing fields in all industrial organization. Network industries include the Internet, e-mail, telephony, computer hardware and software, music and video players, and service operations in the banking, legal, and airlines industries among many others. The work offers an overview of the subject matter as well as investigations about specific industries. It conveys the essential features of how strategic interactions between firms are affected by network activity, as well as covering social interaction and its influence on consumers' choices of products and services. Virtually no calculus is used in the text, and each chapter ends with a series of exercises and selected references. The text may be used for both one- and two-semester courses.
Book Synopsis The Economics of Competition, Collusion and In-between by : Claude d’Aspremont
Download or read book The Economics of Competition, Collusion and In-between written by Claude d’Aspremont and published by Springer Nature. This book was released on 2021-05-18 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a methodology for the analysis of oligopolistic markets from an equilibrium viewpoint, considering competition within and between groups of firms. It proposes a well-founded measure of competitive toughness that can be used in empirically relevant applications. This measure reflects the weight put by each firm on competition for market share relative to competition for market size – two dimensions of competition involving conflicting and convergent interests, respectively. It further explores several applications, such as the effect of tougher competition on innovation and of output market power on the emergence of involuntary unemployment, as well as the importance of strategic interactions for investment decisions. Relative to the dominant model of monopolistic competition, The Economics of Competition, Collusion and In-between aims to explore an alternative tractable model of firm competition opening the application of oligopoly theory to many fields in economics where general equilibrium features are crucial. It will be relevant to those interested in applied industrial organization, trade, macroeconomics (in particular macrodynamics) and quantitative economics.
Book Synopsis Microeconomic Theories of Imperfect Competition by : Jean Jaskold Gabszewicz
Download or read book Microeconomic Theories of Imperfect Competition written by Jean Jaskold Gabszewicz and published by Edward Elgar Publishing. This book was released on 1999 with total page 856 pages. Available in PDF, EPUB and Kindle. Book excerpt: This collection of readings provides a broad overview of the major theoretical concepts in the field and includes papers on industry size, quantity and price competition, entry barriers, product differentiation, incomplete information and general equilibrium with imperfect competition.
Book Synopsis The Economy as a Complex Spatial System by : Pasquale Commendatore
Download or read book The Economy as a Complex Spatial System written by Pasquale Commendatore and published by Springer. This book was released on 2017-09-18 with total page 227 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is open access under a CC BY-NC 4.0 license. This collected volume represents the final outcome of the COST Action IS1104 “The EU in the new complex geography of economic systems: models, tools and policy evaluation”. Visualizing the EU as a complex and multi-layered network, the book is organized in three parts, each of them dealing with a different level of analysis: At the macro-level, Part I considers the interactions within large economic systems (regions or countries) involving trade, workers migration, and other factor movements. At the meso-level, Part II discusses interactions within specific but wide-ranging markets, with a focus on financial markets and banking systems. Lastly, at the micro-level, Part III explores the decision-making of single firms, especially in the context of location decisions.
Book Synopsis New-Product Diffusion Models by : Vijay Mahajan
Download or read book New-Product Diffusion Models written by Vijay Mahajan and published by Springer Science & Business Media. This book was released on 2000-09-30 with total page 376 pages. Available in PDF, EPUB and Kindle. Book excerpt: Product sales, especially for new products, are influenced by many factors. These factors are both internal and external to the selling organization, and are both controllable and uncontrollable. Due to the enormous complexity of such factors, it is not surprising that product failure rates are relatively high. Indeed, new product failure rates have variously been reported as between 40 and 90 percent. Despite this multitude of factors, marketing researchers have not been deterred from developing and designing techniques to predict or explain the levels of new product sales over time. The proliferation of the internet, the necessity or developing a road map to plan the launch and exit times of various generations of a product, and the shortening of product life cycles are challenging firms to investigate market penetration, or innovation diffusion, models. These models not only provide information on new product sales over time but also provide insight on the speed with which a new product is being accepted by various buying groups, such as those identified as innovators, early adopters, early majority, late majority, and laggards. New Product Diffusion Models aims to distill, synthesize, and integrate the best thinking that is currently available on the theory and practice of new product diffusion models. This state-of-the-art assessment includes contributions by individuals who have been at the forefront of developing and applying these models in industry. The book's twelve chapters are written by a combined total of thirty-two experts who together represent twenty-five different universities and other organizations in Australia, Europe, Hong Kong, Israel, and the United States. The book will be useful for researchers and students in marketing and technological forecasting, as well as those in other allied disciplines who study relevant aspects of innovation diffusion. Practitioners in high-tech and consumer durable industries should also gain new insights from New Product Diffusion Models. The book is divided into five parts: I. Overview; II. Strategic, Global, and Digital Environments for Diffusion Analysis; III. Diffusion Models; IV. Estimation and V. Applications and Software. The final section includes a PC-based software program developed by Gary L. Lilien and Arvind Rangaswamy (1998) to implement the Bass diffusion model. A case on high-definition television is included to illustrate the various features of the software. A free, 15-day trial access period for the updated software can be downloaded from http://www.mktgeng.com/diffusionbook. Among the book's many highlights are chapters addressing the implications posed by the internet, globalization, and production policies upon diffusion of new products and technologies in the population.
Book Synopsis Oligopoly Theory by : James Friedman
Download or read book Oligopoly Theory written by James Friedman and published by CUP Archive. This book was released on 1983-09-30 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt: James Friedman provides a thorough survey of oligopoly theory using numerical examples and careful verbal explanations to make the ideas clear and accessible. While the earlier ideas of Cournot, Hotelling, and Chamberlin are presented, the larger part of the book is devoted to the modern work on oligopoly that has resulted from the application of dynamic techniques and game theory to this area of economics. The book begins with static oligopoly theory. Cournot's model and its more recent elaborations are covered in the first substantive chapter. Then the Chamberlinian analysis of product differentiation, spatial competition, and characteristics space is set out. The subsequent chapters on modern work deal with reaction functions, advertising, oligopoly with capital, entry, and oligopoly using noncooperative game theory. A large bibliography is provided.
Book Synopsis Quantitative Techniques for Competition and Antitrust Analysis by : Peter Davis
Download or read book Quantitative Techniques for Competition and Antitrust Analysis written by Peter Davis and published by Princeton University Press. This book was released on 2009-11-16 with total page 1185 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book combines practical guidance and theoretical background for analysts using empirical techniques in competition and antitrust investigations. Peter Davis and Eliana Garcés show how to integrate empirical methods, economic theory, and broad evidence about industry in order to provide high-quality, robust empirical work that is tailored to the nature and quality of data available and that can withstand expert and judicial scrutiny. Davis and Garcés describe the toolbox of empirical techniques currently available, explain how to establish the weight of pieces of empirical work, and make some new theoretical contributions. The book consistently evaluates empirical techniques in light of the challenge faced by competition analysts and academics--to provide evidence that can stand up to the review of experts and judges. The book's integrated approach will help analysts clarify the assumptions underlying pieces of empirical work, evaluate those assumptions in light of industry knowledge, and guide future work aimed at understanding whether the assumptions are valid. Throughout, Davis and Garcés work to expand the common ground between practitioners and academics.
Book Synopsis Advances in the Spatial Theory of Voting by : James M. Enelow
Download or read book Advances in the Spatial Theory of Voting written by James M. Enelow and published by Cambridge University Press. This book was released on 1990-06-29 with total page 266 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume brings together eight original essays designed to provide an overview of developments in spatial voting theory in the past ten years. The topics covered are: spatial competition with possible entry by new candidates; the "heresthetical" manipulation of vote outcomes; candidates with policy preferences; experimental testing of spatial models; probabilistic voting; voting on alternatives with predictive power; elections with more than two candidates under different election systems; and agenda-setting behavior in voting. Leading scholars in these areas summarize the major results of their own and other's work, providing self-contained discussions that will apprise readers of important recent advances.
