Price Competition in a Mixed Oligopoly Market

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Publisher :
ISBN 13 :
Total Pages : 16 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Price Competition in a Mixed Oligopoly Market by : Amarjyoti Mahanta

Download or read book Price Competition in a Mixed Oligopoly Market written by Amarjyoti Mahanta and published by . This book was released on 2016 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt: Several studies on mixed oligopoly indicate that the ownership pattern of firms does not affect the equilibrium price. This idea often suggests that ownership is irrelevant. In a mixed duopoly under price competition, firm ownership is irrelevant. This study reveals that ownership is irrelevant in a single publicly owned firm and in any positive number of privately owned firms. However, if two or more publicly owned firms exist, then ownership becomes relevant in a homogeneous good market with a strictly increasing convex cost schedule and a downward sloping demand curve. If firms set the price sequentially and if the lone public firm is a price leader, then social welfare is constantly greater than when the latter is a price follower. The unique price is the competitive price when the public firm moves first in the sequential game.

Oligopoly Pricing

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Publisher : MIT Press (MA)
ISBN 13 : 9780262220606
Total Pages : 446 pages
Book Rating : 4.2/5 (26 download)

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Book Synopsis Oligopoly Pricing by : Xavier Vives

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.

Strategic Privatization and Regulation Policy in Mixed Markets

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Publisher :
ISBN 13 :
Total Pages : 20 pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Strategic Privatization and Regulation Policy in Mixed Markets by : Denis Claude

Download or read book Strategic Privatization and Regulation Policy in Mixed Markets written by Denis Claude and published by . This book was released on 2005 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper we consider mixed oligopoly markets for differentiated goods where private and public firms compete either in prices or quantities. We then study the welfare effect of privatization interpreted as partial strategic delegation of the public firm to a private manager with profit concern. It is shown that partial privatization improves welfare with quantity competition when goods are substitutes, and with price competition when goods are complements. However full privatization (complete delegation to private manager) can never be optimal. It is also shown that the public firm can make more profit than the private firm in equilibrium, and that this possibility is more likely under quantity competition. Turning to market regulation policy, we find: (i) that public and private firms should be taxed the same; and (ii) that price regulation is better than quantity regulation.

Strategy and Market Structure

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Publisher :
ISBN 13 :
Total Pages : 422 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Strategy and Market Structure by : Martin Shubik

Download or read book Strategy and Market Structure written by Martin Shubik and published by . This book was released on 1959 with total page 422 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Three Essays on Price Competition in Oligopoly

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Publisher :
ISBN 13 :
Total Pages : 118 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Three Essays on Price Competition in Oligopoly by : Shyh-Fang Ueng

Download or read book Three Essays on Price Competition in Oligopoly written by Shyh-Fang Ueng and published by . This book was released on 1992 with total page 118 pages. Available in PDF, EPUB and Kindle. Book excerpt: This research investigates three issues related to the economic performance of oligopolistic markets where firms produce differentiated products and compete in prices. First of all, this dissertation uses a Markov Perfect Equilibrium approach with fixed periods of commitment of actions to answer the question of what prices a duopolists will charge in equilibrium if they produce horizontally differentiated products, move alternatingly, and compete in prices forever. It is found that firms charge prices which are higher than Nash equilibrium prices but lower than the fully collusive equilibrium prices. Also, contrasted with the Nash equilibrium of the one-shot constituent game, the firm having the significantly higher demand responsiveness to its own price always charges a lower price than the other firm does although it has higher marginal cost. The dissertation then proceeds to study whether a firm can overcome its cost disadvantage by upgrading its product over the rival's, and if so, whether there exists a profit-division which will induce the low cost firm and the high cost firm to collude and no one has an incentive to cheat. The results show that (1) the ability of upgrading the product over the rival's can allow a high cost firm to earn higher profit than a cost advantaged low cost firm; (2) there exists at least one profit-division which can sustain full collusion; and (3) in the collusive equilibrium firms enlarge their quality differences to alleviate the price tension between their products. Finally, this work investigates the welfare effect of mergers which occur in an oligopolistic industry where firms produce differentiated products. It is shown that for the merger to be socially beneficial, the number of the merging firms must be less than the total number of firms in the industry minus the ratio of the products' own elasticity to cross elasticity. The analysis indicates that the welfare effect of a merger of a specific size depends on the substitutability among products of the industry.

Competition Among the Few

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Publisher :
ISBN 13 :
Total Pages : 426 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Competition Among the Few by : William Fellner

Download or read book Competition Among the Few written by William Fellner and published by . This book was released on 1960 with total page 426 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Market Strategy and Structure

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Publisher : Prentice Hall
ISBN 13 :
Total Pages : 544 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Market Strategy and Structure by : J. M. Alec Gee

Download or read book Market Strategy and Structure written by J. M. Alec Gee and published by Prentice Hall. This book was released on 1992 with total page 544 pages. Available in PDF, EPUB and Kindle. Book excerpt: Addressing issues in the analysis of market strategy and structure, the contributors to this volume assess the current position and consider future opportunities for research. Topics covered include product differentiation, price and quantity competition, strategic behaviour and patenting.

The Existence of Equilibrium in Discontinuous Economic Games

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Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (143 download)

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Book Synopsis The Existence of Equilibrium in Discontinuous Economic Games by : London School of Economics and Political Science

Download or read book The Existence of Equilibrium in Discontinuous Economic Games written by London School of Economics and Political Science and published by . This book was released on 1982 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Mathematical Programming and Game Theory for Decision Making

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Publisher : World Scientific
ISBN 13 : 9812813225
Total Pages : 498 pages
Book Rating : 4.8/5 (128 download)

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Book Synopsis Mathematical Programming and Game Theory for Decision Making by : S. K. Neogy

Download or read book Mathematical Programming and Game Theory for Decision Making written by S. K. Neogy and published by World Scientific. This book was released on 2008 with total page 498 pages. Available in PDF, EPUB and Kindle. Book excerpt: This edited book presents recent developments and state-of-the-art review in various areas of mathematical programming and game theory. It is a peer-reviewed research monograph under the ISI Platinum Jubilee Series on Statistical Science and Interdisciplinary Research. This volume provides a panoramic view of theory and the applications of the methods of mathematical programming to problems in statistics, finance, games and electrical networks. It also provides an important as well as timely overview of research trends and focuses on the exciting areas like support vector machines, bilevel programming, interior point method for convex quadratic programming, cooperative games, non-cooperative games and stochastic games. Researchers, professionals and advanced graduates will find the book an essential resource for current work in mathematical programming, game theory and their applications. Sample Chapter(s). Foreword (45 KB). Chapter 1: Mathematical Programming and its Applications in Finance (177 KB). Contents: Mathematical Programming and Its Applications in Finance (L C Thomas); Anti-Stalling Pivot Rule for Linear Programs with Totally Unimodular Coefficient Matrix (S N Kabadi & A P Punnen); A New Practically Efficient Interior Point Method for Convex Quadratic Programming (K G Murty); A General Framework for the Analysis of Sets of Constraints (R Caron & T Traynor), Tolerance-Based Algorithms for the Traveling Salesman Problem (D Ghosh et al.); On the Membership Problem of the Pedigree Polytope (T S Arthanari); Exact Algorithms for a One-Defective Vertex Colouring Problem (N Achuthan et al.); Complementarity Problem Involving a Vertical Block Matrix and Its Solution Using Neural Network Model (S K Neogy et al.); Fuzzy Twin Support Vector Machines for Pattern Classification (R Khemchandani et al.); An Overview of the Minimum Sum of Absolute Errors Regression (S C Narula & J F Wellington); Hedging Against the Market with No Short Selling (S A Clark & C Srinivasan); Mathematical Programming and Electrical Network Analysis II: Computational Linear Algebra Through Network Analysis (H Narayanan); Dynamic Optimal Control Policy in Price and Quality for High Technology Product (A K Bardhan & U Chanda); Forecasting for Supply Chain and Portfolio Management (K G Murty); Variational Analysis in Bilevel Programming (S Dempe et al.); Game Engineering (R J Aumann); Games of Connectivity (P Dubey & R Garg); A Robust Feedback Nash Equilibrium in a Climate Change Policy Game (M Hennlock); De Facto Delegation and Proposer Rules (H Imai & K Yonezaki); The Bargaining Set in Effectivity Function (D Razafimahatolotra); Dynamic Oligopoly as a Mixed Large Game OCo Toy Market (A Wiszniewska-Matyszkiel); On Some Classes of Balanced Games (R B Bapat); Market Equilibrium for Combinatorial Auctions and the Matching Core of Nonnegative TU Games (S Lahiri); Continuity, Manifolds, and Arrow''s Social Choice Problem (K Saukkonen); On a Mixture Class of Stochastic Games with Ordered Field Property (S K Neogy). Readership: Researchers, professionals and advanced students in mathematical programming, game theory, management sciences and computational mathematics.

Strategic Aspects of Oligopolistic Vertical Integration

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Publisher : Elsevier
ISBN 13 : 1483296164
Total Pages : 244 pages
Book Rating : 4.4/5 (832 download)

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Book Synopsis Strategic Aspects of Oligopolistic Vertical Integration by : C. Wu

Download or read book Strategic Aspects of Oligopolistic Vertical Integration written by C. Wu and published by Elsevier. This book was released on 2017-12-28 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this text some fundamental issues concerning the strategic impact of vertical structures of firms are discussed in a successive oligopoly model. Vertical integration strategy has been identified as one of the key strategies which determine the success or failure of enterprises. Many studies on vertical integration are based on business experiences and interviews with managers. However, the extensive application of game theory in business economics allows this study on vertical integration to be based on sound theoretic ground. Moreover, the significance of public enterprises in some Western European economies and the trends of economic transition in Eastern Europe justify the efforts to analyse vertical integration issues in the mixed market, which is created by the participation of a public firm into an industry otherwise characterised as a successive oligopoly.

Public Enterprise Economics

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Publisher : Elsevier
ISBN 13 : 1483193233
Total Pages : 480 pages
Book Rating : 4.4/5 (831 download)

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Book Synopsis Public Enterprise Economics by : Dieter Bös

Download or read book Public Enterprise Economics written by Dieter Bös and published by Elsevier. This book was released on 2014-07-15 with total page 480 pages. Available in PDF, EPUB and Kindle. Book excerpt: Advanced Textbooks in Economics, Volume 23: Public Enterprise Economics: Theory and Application focuses on economics, mathematical economics, and econometrics, including microeconomics, marginal-cost pricing, taxes, and income effects. The manuscript takes a look at the essential parts of public sector pricing models, normative optimum theory, and normative piecemeal theory. Discussions focus on welfare improvements with non-tight constraints, welfare -improving increases of public inefficiency, conditions for optimal prices and quantities, compensating for income effects, and conditions for optimal quality. The book then ponders on marginal-cost pricing, Ramsey pricing, rate of return regulation, and pricing with distributional aims. Topics include comparing distributional and allocative pricing, prices versus taxes, optimum Ramsey policy, influence of Ramsey prices on allocation, distribution, and stabilization, and consequences for allocation, distribution, and stabilization. The publication examines bus and underground services in London, economic theory and empirical analysis, and different approaches towards optimal quality, including empirical studies on bus and underground demand, organizational and political history, and microeconomics of the representative consumer. The book is a valuable source of data for researchers interested in public enterprise economics.

Evolutionary Competition in a Mixed Market with Socially Concerned Firms

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Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)

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Book Synopsis Evolutionary Competition in a Mixed Market with Socially Concerned Firms by : Michael Kopel

Download or read book Evolutionary Competition in a Mixed Market with Socially Concerned Firms written by Michael Kopel and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper we study an oligopoly market where profit-maximizing firms and socially concerned firms compete in quantities. Confronting remarks by Milton Friedman and Gary Becker, we are using an evolutionary setting to investigate the endogenous choice of the proper objective of business firms and the influence of product differentiation on the long run survival of firms which pursue non-profit motives. We find that firms which consider a combination of profit and consumer welfare can indeed have larger market shares and profits than their profit-maximizing rivals. One insight is that it might pay off for shareholders to consider stakeholder welfare, but that the level of social concern should not be too high. Based on a strategy's profitability, we consider asynchronous evolutionary updating with firms selecting Nash quantities or choosing best replies to the expected market quantity. Here we observe that the consumers' willingness to pay a price premium for products is crucial for the long run survival of socially concerned firms. Depending on the degrees of product differentiation and social concern, long run outcomes consist either of both types of firms or only one type of firm. If the firms' propensity to switch between a social or a profit-maximizing strategy is sufficiently large, steady states are unstable and even complicated dynamics can occur.

Patterns of Competitive Interaction

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ISBN 13 :
Total Pages : 45 pages
Book Rating : 4.:/5 (111 download)

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Book Synopsis Patterns of Competitive Interaction by : Mark Armstrong

Download or read book Patterns of Competitive Interaction written by Mark Armstrong and published by . This book was released on 2019 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: We explore patterns of competitive interaction by studying mixed-strategy equilibrium pricing in oligopoly settings where consumers vary in the set of suppliers they consider for their purchase. In the case of "nested reach" we find equilibria, unlike those in existing models, in which price competition is segmented: small firms offer only low prices and large firms only offer high prices. We characterize equilibria in the three-firm case using correlation measures of competition between pairs of firms. We then contrast them with equilibria in the parallel model with capacity constraints. A theme of the analysis is how patterns of consumer consideration matter for competitive outcomes.

Mixed Pricing in Oligopoly

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Publisher :
ISBN 13 :
Total Pages : 154 pages
Book Rating : 4.:/5 (35 download)

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Book Synopsis Mixed Pricing in Oligopoly by : Yuval Shilony

Download or read book Mixed Pricing in Oligopoly written by Yuval Shilony and published by . This book was released on 1975 with total page 154 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Product Differentiation and Oligopoly Market Structure

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Publisher :
ISBN 13 :
Total Pages : 240 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Product Differentiation and Oligopoly Market Structure by : Michael James Mazzeo

Download or read book Product Differentiation and Oligopoly Market Structure written by Michael James Mazzeo and published by . This book was released on 1998 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Public Goods, Mixed Goods, and Monopolistic Competition

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Publisher : Texas A&M University Press
ISBN 13 :
Total Pages : 248 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Public Goods, Mixed Goods, and Monopolistic Competition by : Stephen Shmanske

Download or read book Public Goods, Mixed Goods, and Monopolistic Competition written by Stephen Shmanske and published by Texas A&M University Press. This book was released on 1991 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: Public goods and monopolistic competition have traditionally been separate fields of study in microeconomics, each field having its own array of models. In this book, Stephen Shmanske builds a theoretical bridge between these two areas, suggesting that public goods and monopolistic competition are different dimensional simplifications of the same general model. The author argues first that the generic model for public goods has two dimensions of consumption but that public goods models have usually ignored or simplified the utilization dimension. Furthermore, private goods models in the monopolistic competition vein also have two implicit dimensions of consumption, but again, one of the dimensions is treated in a very constrained fashion. As it turns out, between public goods and monopolistic competition, each model emphasizes the dimension that is ignored or simplified in the other. Thus, the general, mixed goods model draws from both traditions, using the results of one model to generalize and extend the other. An immediate implication of the analysis is that the traditional models of public goods and monopolistic competition have focused on special cases and thus have provided misleading conclusions. Specifically, monopolistic competition and other models of differentiated oligopoly have reached conclusions in settings that emphasize uniform pricing despite the facts that (1) discriminatory pricing has been studied in competitive situations in public goods models, (2) discriminatory pricing is the more usual pricing method, and (3) the results obtained using uniform pricing do not generalize to more sophisticated pricing regimes. Meanwhile, public goods models have focused on special cases like national defense, where the results obtained do not generally apply in other public or mixed goods settings. Shmanske's conclusions have great relevance to policy formation on public goods provision. Public goods and mixed goods are not curious anomalies; they are all around us, and in most cases competitive private sector agents can and have been providing public goods with no market failure. Professionals and scholars in the areas of public finance and industrial organization will appreciate Shmanske's careful critique of existing models and his rigorous conceptualizing and modeling of public goods in private markets characterized by monopolistic competition.

Mixed Oligopoly Equilibria when Firms' Objectives are Endogenous

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Publisher :
ISBN 13 :
Total Pages : 25 pages
Book Rating : 4.:/5 (15 download)

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Book Synopsis Mixed Oligopoly Equilibria when Firms' Objectives are Endogenous by : Philippe de Donder

Download or read book Mixed Oligopoly Equilibria when Firms' Objectives are Endogenous written by Philippe de Donder and published by . This book was released on 2006 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: