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Quality Choice In Models Of Vertical Differentiation
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Book Synopsis The Economic Theory of Product Differentiation by : John Beath
Download or read book The Economic Theory of Product Differentiation written by John Beath and published by Cambridge University Press. This book was released on 1991-02-28 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents economic theories that seek to explain the prevalence of differentiated products in market economies. It uses these theories to derive market equilibria and to compare these to social optima for both horizontally and vertically differentiated products. The implications of product differentiation for market structure and power, strategic entry deterrence and international trade are all examined.
Book Synopsis Quality Choice in Models of Vertical Differentiation by : Xavier Wauthy
Download or read book Quality Choice in Models of Vertical Differentiation written by Xavier Wauthy and published by . This book was released on 1994 with total page 10 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Quality Choice, Fixed Costs and Equilibrium in Models of Vertical Differentiation by :
Download or read book Quality Choice, Fixed Costs and Equilibrium in Models of Vertical Differentiation written by and published by . This book was released on 2000 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: I provide a full characterization of the quality choice in duopolies with vertical differentiation, without assuming ex-ante if the market is fully covered or not. This will allow to show that covered or uncovered market configurations are endogenous outcomes of firms strategic interaction. To this purpose, I assume that firms are characterized by quadratic fixed costs of quality improvements and check whether pure-strategy subgame perfect equilibria with a corner solution always exist. Finally, my results are compared to the quality choice that maximizes the total surplus of the economy. I show that the welfare-maximizing choice of qualities does not have to be found in the same market configuration of the corresponding market equilibrium.
Book Synopsis Quality Choice, Fixed Costs and Equilibrium in Models of Vertical Differentiation by : Matteo Alvisi
Download or read book Quality Choice, Fixed Costs and Equilibrium in Models of Vertical Differentiation written by Matteo Alvisi and published by . This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: I provide a full characterization of the quality choice in duopolies with vertical differentiation, without assuming ex-ante if the market is fully covered or not. This will allow to show that covered or uncovered market configurations are endogenous outcomes of firms' strategic interaction. To this purpose, I assume that firms are characterized by quadratic fixed costs of quality improvements and check whether pure-strategy subgame perfect equilibria with a corner solution always exist. Finally, my results are compared to the quality choice that maximizes the total surplus of the economy. I show that the welfare-maximizing choice of qualities does not have to be found in the same market configuration of the corresponding market equilibrium.
Book Synopsis A Note on the High-Quality Advantage in Vertical Differentiation Models by : Xinghe Henry Wang
Download or read book A Note on the High-Quality Advantage in Vertical Differentiation Models written by Xinghe Henry Wang and published by . This book was released on 2003 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: It is well established in vertical product differentiation models that the high-quality firm reaps a larger profit in a two-stage quality-price game as long as the cost of quality improvement is zero or is borne as fixed cost in the first stage quality choice. This note shows that the high-quality advantage may fail to hold if there is variable cost of production that is dependent on quality.
Book Synopsis Product Positioning in a Two-Dimensional Vertical Differentiation Model by : Dominique Olie Lauga
Download or read book Product Positioning in a Two-Dimensional Vertical Differentiation Model written by Dominique Olie Lauga and published by . This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study a duopoly model where consumers are heterogeneous with respect to their willingness to pay for two product characteristics and marginal costs are increasing with the quality level chosen on each attribute. We show that while firms seek to manage competition through product positioning, their differentiation strategies critically depend on how costly it is to provide higher quality. When the cost of providing quality is not too high, firms use only one attribute to differentiate their products: they maximally differentiate on one dimension and minimally differentiate on the other dimension (a Max-Min equilibrium). Furthermore, they always differentiate along the dimension with the greater attribute range. As for the dimension with the smaller range and along which they agglomerate, both firms either choose the highest quality level or the lowest quality level possible, depending on whether the marginal costs of quality provision are low or intermediate, respectively. However, for larger quality provision costs, firms exploit both dimensions to differentiate their products. In particular, we characterize a maximal differentiation equilibrium in which one firm chooses the highest quality level on both attributes, while its rival offers the lowest quality level on both attributes (a Max-Max equilibrium). We discuss the managerial implications of our findings and explain how they enrich and qualify previous results reported in the literature on two-dimensional differentiation models.
Book Synopsis Better Late Than Early by : Prajit K. Dutta
Download or read book Better Late Than Early written by Prajit K. Dutta and published by . This book was released on 1993 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: After the initial breakthrough in the research phase of R&D a new product undergoes a process of change, improvement and adaptation to market conditions. We model the strategic behavior of firms in this development phase of R&D. We emphasize that a key dimension to this competition is the innovations that lead to product differentiation and quality improvement. In a duopoly model with a single adoption choice, we derive endogeneously the level and diversity of product innovations. We demonstrate the existence of equilibria in which one firm enters early with a low quality product while the other continues to develop the technology and eventually markets a high quality good. In such an equilibrium, no monopoly rent is dissipated and the later innovator makes more profits. Incumbent firms may well be the early innovators, contrary to the predictions of the hypothesis.
Author :Mark B. Vandenbosch Publisher :London : Western Business School, University of Western Ontario ISBN 13 :9780771414244 Total Pages :44 pages Book Rating :4.4/5 (142 download)
Book Synopsis Product and Price Competition in a Two-dimensional Vertical Differentiation Model by : Mark B. Vandenbosch
Download or read book Product and Price Competition in a Two-dimensional Vertical Differentiation Model written by Mark B. Vandenbosch and published by London : Western Business School, University of Western Ontario. This book was released on 1992 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Strategic Lowering of Product Quality to Deter Entry in Vertical Differentiation Models by : Jong-Say Yong
Download or read book Strategic Lowering of Product Quality to Deter Entry in Vertical Differentiation Models written by Jong-Say Yong and published by . This book was released on 1998 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Essays on Economics of Vertical Product Differentiation by : Taehoon Youn
Download or read book Essays on Economics of Vertical Product Differentiation written by Taehoon Youn and published by . This book was released on 1999 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Equilibrium Vertical Differentiation in a Bertrand Model with Capacity Precommitment by : Xavier Wauthy
Download or read book Equilibrium Vertical Differentiation in a Bertrand Model with Capacity Precommitment written by Xavier Wauthy and published by . This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Both quality differentiation and capacity commitment have been shown to relax price competition. However, their joint influence on the outcome of price competition has not yet been assessed. In this article, we consider a three stage game in which firms choose quality, then commit to capacity and, finally, compete in price. When the cost of quality is negligible, we show that firms do not differentiate their products in a subgame perfect equilibrium, in other words, capacity precommitment completely eliminates the incentive to differentiate by quality.
Book Synopsis Structural Implications and Estimation of Vertical Product Differentiation by : Paul Richard Messinger
Download or read book Structural Implications and Estimation of Vertical Product Differentiation written by Paul Richard Messinger and published by . This book was released on 1988 with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Perception and Quality Choice in Vertically Differentiated Markets by : E. J. D. Webb
Download or read book Perception and Quality Choice in Vertically Differentiated Markets written by E. J. D. Webb and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Vertical Product Differentiation When Quality is Unobservable to Buyers by :
Download or read book Vertical Product Differentiation When Quality is Unobservable to Buyers written by and published by . This book was released on 2004 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Vertical Product Differentiation and Entry Deterrence by : Stefan Lutz
Download or read book Vertical Product Differentiation and Entry Deterrence written by Stefan Lutz and published by . This book was released on 2003 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies how the existence of a potential entrant influences an incumbent's choice of quality in a model of vertical product differentiation and entry. Both firms face fixed set-up costs and quality-dependent costs of production and compete on quality and price. With identical quality-dependent costs, the incumbent will always deter entry if possible, i.e., if fixed costs are high. Quality will be set at a level lower than the optimal quality set if entry was accommodated. If entry is not blockaded, quality will be set at a level strictly lower than the optimal quality set under monopoly.
Book Synopsis Vertical Differentiation in Frictional Product Markets by : James Albrecht
Download or read book Vertical Differentiation in Frictional Product Markets written by James Albrecht and published by . This book was released on 2021 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We consider a version of the imperfect competition model of Butters (1977), Varian (1980) and Burdett and Judd (1983) in which sellers make an ex-ante investment in the quality of their variety of the product. Equilibrium exists, is unique and is efficient. In equilibrium, search frictions not only cause sellers to offer different surpluses to buyers but also cause sellers to choose different qualities for their varieties. That is, equilibrium involves endogenous vertical differentiation. As search frictions decline, the market becomes more and more unequal as a smaller and smaller fraction of sellers produces varieties of increasing quality, offers increasing surplus to their customers, and captures an increasing share of the market, while a growing fraction of sellers produces varieties of decreasing quality. Gains from trade and welfare grow. Under some conditions, the growth rate of gains from trade and welfare is constant.
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.
