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  1. Myopic oligopoly pricing
    Author: Bos, Iwan; Marini, Marco; Saulle, Riccardo D.
    Published: [2021]
    Publisher:  Università degli studi di Padova, dSEA, [Padova]

    Access:
    Verlag (kostenfrei)
    Verlag (kostenfrei)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    VS 653
    Inter-library loan:
    No inter-library loan
    Export to reference management software   RIS file
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Marco Fanno working papers ; 271 (December 2021)
    Subjects: Bounded Rationality; Capacity Constraints; Mergers; Myopic Stable Set; Oligopoly Pricing; Supply Shortages
    Scope: 1 Online-Ressource (circa 53 Seiten), Illustrationen
  2. Myopic oligopoly pricing
    Author: Bos, Iwan; Marini, Marco; Saulle, Riccardo D.
    Published: December 2021
    Publisher:  Fondazione Eni Enrico Mattei, Milano, Italia

    This paper examines capacity-constrained oligopoly pricing with sellers who seek myopic improvements. We employ the Myopic Stable Set solution concept and establish the existence of a unique pure-strategy price solution for any given level of... more

    Access:
    Verlag (kostenfrei)
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 125
    Inter-library loan:
    No inter-library loan

     

    This paper examines capacity-constrained oligopoly pricing with sellers who seek myopic improvements. We employ the Myopic Stable Set solution concept and establish the existence of a unique pure-strategy price solution for any given level of capacity. This solution is shown to coincide with the set of pure-strategy Nash equilibria when capacities are large or small. For an intermediate range of capacities, it predicts a price interval that includes the mixed-strategy support. This stability concept thus encompasses all Nash equilibria and offers a pure-strategy solution when there is none in Nash terms. It particularly provides a behavioral rationale for different pricing patterns, including Edgeworth price cycles and states of hyper-competition with supply shortages. We also analyze the impact of a change in firm size distribution. A merger among the biggest firms may lead to more price dispersion as it increases the maximum and decreases the minimum myopically stable price.

     
    Export to reference management software   RIS file
      BibTeX file
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/249967
    Series: Working paper / Fondazione Eni Enrico Mattei ; 2021, 032
    Subjects: Bounded Rationality; Capacity Constraints; Mergers; Myopic Stable Set; Oligopoly Pricing; Supply Shortages
    Scope: 1 Online-Ressource (circa 57 Seiten), Illustrationen