haku: @indexterm Macroeconomic models / yhteensä: 204
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| Tekijä: | Caminal, R. |
| Otsikko: | A dynamic duopoly model with asymmetric information |
| Lehti: | Journal of Industrial Economics
1990 : MAR, VOL. 38:3, p. 315-326 |
| Asiasana: | MARKET STRUCTURE MACROECONOMIC MODELS INFORMATION GAME THEORY EQUILIBRIUM ANALYSIS PROFIT |
| Kieli: | eng |
| Tiivistelmä: | The impact of asymmetric information on the set of equilibria of a two-period duopoly game with price competition is investigated. The literature on informational asymmetries in an oligopoly context is briefly reviewed. It turns out that all admissible sequential equilibria of this game share a "collusive" character, i.e. ex-ante expected profits for a firm of any type are higher than in the complete information case. For small uncertainties the results are asymmetric: a small probability of a "good" type firm does not make much difference on the set of equilibrium payoffs, but a small probability of a "bad" type firm does. A strategy for each firm is identified. |
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