INFORMATION, DUOPOLY AND COMPETITIVE MARKETS: A SENSITIVITY ANALYSIS
نویسندگان
چکیده
منابع مشابه
Competitive Markets and Aggregate Information
A frequently asked question is, how informationally efficient are market prices? In answering this question, economists commonly model the price formation process as one of tâtonnement where agents revise their beliefs until a market-clearing price is established. The Walrasian market thus aggregates all relevant information about an asset and yields a strong-form efficient price. A second appr...
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The emerging field of data analytics and the increasing importance of data and information in decision making has created a large market for buying and selling information and information-related services. In this market, for some types of information products, it is common for a consumer to purchase the same type of information product from multiple sources. In other situations, a consumer may...
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This paper reports 45 laboratory duopoly markets that examine the importance of information sharing in facilitating tacit collusion under conditions of demand uncertainty. Sellers in these repeated laboratory markets generally shared information when possible to reduce their demand uncertainty, which led to output reductions in some demand states. Risk aversion is a likely explanation for this ...
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We study competitive information provision in search markets. Consider the used car market: as a consumer searches, she receives noisy signals of the values of cars. She can consult an expert (say Carfax or a mechanic) to find out more about the true value before deciding whether to purchase a particular car or keep searching. Prior research has studied the pricing problem faced by a monopolist...
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Buyers often search across multiple retailers or websites to learn which product best fits their needs. We study how sellers manage these search incentives through their disclosure policies (e.g. advertisements, product trials and reviews), and ask how competition affects information provision. If sellers can observe the beliefs of buyers (e.g. they can track buyers via their cookies) then, in ...
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ژورنال
عنوان ژورنال: Kyklos
سال: 1973
ISSN: 0023-5962,1467-6435
DOI: 10.1111/j.1467-6435.1973.tb02774.x