haku: @author Aghion, P. / yhteensä: 25
viite: 24 / 25
| Tekijä: | Aghion, P. Bolton, P. |
| Otsikko: | Contracts as a barrier to entry |
| Lehti: | American Economic Review
1987 : JUN, VOL. 77:3, p.388-401 |
| Asiasana: | CONTRACTS MARKETS SELLING |
| Kieli: | eng |
| Tiivistelmä: | An incumbent seller who faces a threat of entry into his or her market will sign long-term contracts that prevent the entry of some lower-cost producers even though they do not preclude entry completely. When a seller possesses superior information about the likelihood of entry, it is shown that the length of the contract may act as a signal of the true probability of entry. In Hermalin's model the high-productivity sellers do not want to be locked in a long-term contract; here it is the buyer, who does not want to forego future opportunities. |
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