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Author : Kurt Richard Brekke
Publisher :
ISBN 13 :
Total Pages : 24 pages
Book Rating : 4.:/5 (441 download)
Download or read book Price and Quality in Spatial Competition written by Kurt Richard Brekke and published by . This book was released on 2009 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Raphael Auer
Publisher :
ISBN 13 :
Total Pages : 53 pages
Book Rating : 4.:/5 (881 download)
Download or read book Spatial Competition in Quality written by Raphael Auer and published by . This book was released on 2014 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: We develop a model of vertical innovation in which firms incur a market entry cost and position themselves in the quality space. Once established, firms compete monopolistically, selling to consumers with heterogeneous tastes for quality. We establish existence and uniqueness of the pricing game in such vertically differentiated markets with a potentially large number of active firms. Turning to firms' entry decisions, exogenously growing productivities induce firms to enter the market sequentially at the top end of the quality spectrum. We spell out the conditions under which the entry problem is replicated over time so that each new entrant improves incumbent qualities in fixed proportions. Sequential market entry overcomes the asymmetry of the location problem, which unavoidably arises in the quality spectrum because of its top and bottom ends. Our main technical contribution lies in handling this asymmetry, a feature absent in Salop (1979) and other circular representations of Hotelling (1929) and Lancaster (1966).
Author : Tarek H. Selim
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Spatial Competition in a Differentiated Market with Asymmetric Costs written by Tarek H. Selim and published by . This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Spatial quality choice is introduced, where consumers are horizontally differentiated by taste and firms vertically differentiated by quality location, within an equilibrium model of duopoly competition characterized by asymmetric fixed and variable costs. Firms choose quality location followed by prices but then may vertically re-locate their quality offerings based on changing horizontal consumer taste. A monopolistic equilibrium solution arises with firms achieving positive economic profits through price-quality markups exceeding marginal costs. Under strict inequality conditions, each firm acts as a monopolistic competitor within a range of quality choices governed by multiple relative differentiation outcomes. On the other hand, vertical re-location exhibits a resistance to change on the part of vertically located firms such that firms dislike quality re-location and prefer stable preferences in quality. Such resistance to change is overcome by firms re-locating their quality offerings to maximize monopolistic brand-space gains. It is argued that more horizontal differentiation may force more product differentiation by vertical quality relocation. A relative change in quality preferences may result in wider quality spreads in the market through vertical quality re-locations, even though the resistance to change arguments may still hold good.
Author : Yves Smeers
Publisher :
ISBN 13 :
Total Pages : 27 pages
Book Rating : 4.:/5 (933 download)
Download or read book Competition in Both Quantity and Quality written by Yves Smeers and published by . This book was released on 1997 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Kurt Richard Brekke
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Quality and Location Choices Under Price Regulation written by Kurt Richard Brekke and published by . This book was released on 2008 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In a model of spatial competition, we analyze the equilibrium outcomes in markets where the product price is exogenous. Using an extended version of the Hotelling model, we assume that firms choose their locations and the quality of the product they supply. We derive the optimal price set by a welfarist regulator. If the regulator can commit to a price prior to the choice of locations, the optimal (second-best) price causes overinvestment in quality and an insufficient degree of horizontal differentiation (compared with the first-best solution) if the transportation cost of consumers is sufficiently high. Under partial commitment, where the regulator is not able to commit prior to location choices, the optimal price induces first-best quality, but horizontal differentiation is inefficiently high.
Author : Stefano Colombo
Publisher : Springer Nature
ISBN 13 : 3030400980
Total Pages : 346 pages
Book Rating : 4.0/5 (34 download)
Download or read book Spatial Economics Volume I written by Stefano Colombo and published by Springer Nature. This book was released on 2020-09-23 with total page 346 pages. Available in PDF, EPUB and Kindle. Book excerpt: Space is a crucial variable in any economic activity. Spatial Economics is the branch of economics that explicitly aims to incorporate the space dimension in the analysis of economic phenomena. From its beginning in the last century, Spatial Economics has contributed to the understanding of the economy by developing plenty of theoretical models as well as econometric techniques having the “space” as a core dimension of the analysis. This edited volume addresses the complex issue of Spatial Economics from a theoretical point of view. This volume is part of a more complex project including another edited volume (Spatial Economics Volume II: Applications) collecting original papers which address Spatial Economics from an applied perspective.
Author : Daniel P. McMillen
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Spatial Competition and the Price of College written by Daniel P. McMillen and published by . This book was released on 2006 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Relatively little work has examined whether universities compete directly in either list or net tuition. This paper is the first to examine competition among universities, doing so through the introduction of geographic proximity into a model of tuition determination. We also contribute to the spatial econometric literature by relaxing the constraint in the standard spatial model that the strength of the spatial relationship be common across all observations. Exploiting detailed data for a cross-section of private US universities, the results of standard spatial models applied to tuition setting suggest that both list and net tuition are positively related to the proximity of competitors. Thus, the paper provides the first formal evidence that universities compete directly on price, and that the market for students depends on the proximity of competitors. However, the differential spatial-lag models suggest imposing a common spatial effect across all classes of institutions is overly restrictive insofar as spatial dependence depends on both geographic proximity and institutional quality.
Author : Anna Nagurney
Publisher :
ISBN 13 :
Total Pages : 41 pages
Book Rating : 4.:/5 (13 download)
Download or read book Spatial Price Equilibrium with Information Asymmetry in Quality and Minimum Quality Standards written by Anna Nagurney and published by . This book was released on 2016 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, a spatial price equilibrium model with information asymmetry in quality is developed. Producers at the supply markets are aware of the quality of their products, whereas consumers, located at the demand markets, are aware only of the average quality of the products that are shipped to their demand markets. We derive the governing equilibrium conditions, along with the variational inequality formulation. We then extend the model to include policy interventions in the form of minimum quality standards and provide an integrated variational inequality formulation of both models. We introduce a dynamic adjustment process for the evolution of the product shipments and quality levels over time and formulate it as a projected dynamical system. We establish qualitative results, in the form of existence, uniqueness, and stability analysis. An algorithm is proposed, along with a convergence proof. The algorithm tracks the evolution of the product shipment and quality level pattern until an equilibrium is achieved and, at each iteration, yields closed form expressions for the computation of the product shipments and quality levels. It is then utilized to compute solutions to a spectrum of spatial price equilibrium numerical examples in order to explore the impacts of information asymmetry under different scenarios.This work adds to the growing research on spatial competition and product quality but is the first to incorporate information asymmetry of this specific form in both equilibrium and dynamic model versions.
Author : Chao-shun Hung
Publisher :
ISBN 13 :
Total Pages : 354 pages
Book Rating : 4.:/5 (963 download)
Download or read book A Theoretical Analysis of the Effects of Spatial Competition on Pricing written by Chao-shun Hung and published by . This book was released on 1982 with total page 354 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Louis Phlips
Publisher :
ISBN 13 :
Total Pages : 68 pages
Book Rating : 4.:/5 (318 download)
Download or read book Spatial Pricing and Competition written by Louis Phlips and published by . This book was released on 1976 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Matthias Hunold
Publisher :
ISBN 13 : 9783863043124
Total Pages : pages
Book Rating : 4.0/5 (431 download)
Download or read book Spatial Competition and Price Discriminiation with Capacity Constraints written by Matthias Hunold and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Matthias Hunold
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (119 download)
Download or read book Spatial Competition and Price Discrimination with Capacity Constraints written by Matthias Hunold and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: We characterize mixed-strategy equilibria when capacity constrained suppliers can charge location-based prices to different customers. We establish an equilibrium with prices that weakly increase in the costs of supplying a customer. Despite prices above costs and excess capacities, each supplier exclusively serves its home market in equilibrium. Competition yields volatile market shares and an inefficient allocation of customers to firms. Even ex-post cross-supplies may restore efficiency only partly. We show that consumers may benefit from price discrimination whereas the the firms make the same profits as with uniform pricing. We use our findings to discuss recent competition policy cases and provide hints for a more refined coordinated-effects analysis.
Author : Bertrand Ottino-Loffler
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Spatial Competition with Interacting Agents written by Bertrand Ottino-Loffler and published by . This book was released on 2017 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We generalize Hotelling's model of spatial competition with more than two firms in a two-dimensional space. Firms choose both price and location to maximize profits. The principle of minimum differentiation does not hold in general. Local duopolies emerge from the interaction between firms. Firms do not spread uniformly across the two-dimensional space, nor do they all charge the same price. Firms in more competitive locations charge lower prices. More product attributes produce more price competition.
Author : Harborne W. Stuart
Publisher :
ISBN 13 :
Total Pages : 20 pages
Book Rating : 4.:/5 (369 download)
Download or read book Spatial Competition with Unrestricted Bargaining written by Harborne W. Stuart and published by . This book was released on 1997 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: Two-stage, non-cooperative models of spatial competition usually assume that firms have price-setting power in the second stage of the game. This paper relaxes the price-setting assumption and replaces it with unrestricted bargaining. With unrestricted bargaining, a firm cannot capture more than its location-based, cost advantage. Further, there always exists an equilibrium in which firms choose socially efficient locations. These results do not depend on either the number of firms, the locations of the buyers, or the shape of the transportation-cost function.
Author : Hiroshi Ohta
Publisher :
ISBN 13 :
Total Pages : 40 pages
Book Rating : 4.F/5 ( download)
Download or read book Spatial Perfect Competition Under Uniform Pricing written by Hiroshi Ohta and published by . This book was released on 1998 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Joris Pinkse
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (133 download)
Download or read book Spatial Price Competition written by Joris Pinkse and published by . This book was released on 1999 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Dennis R. Capozza
Publisher :
ISBN 13 :
Total Pages : 10 pages
Book Rating : 4.:/5 (243 download)
Download or read book Pricing Under Spatial Competition and Spatial Monopoly written by Dennis R. Capozza and published by . This book was released on 1977 with total page 10 pages. Available in PDF, EPUB and Kindle. Book excerpt:
