| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP6084 |
| DP6084 Ethnic Persistence, Assimilation and Risk Proclivity | |
| Klaus F. Zimmermann; Holger Bonin; Amelie Constant; Konstantinos Tatsiramos | |
| 发表日期 | 2007-02-14 |
| 出版年 | 2007 |
| 语种 | 英语 |
| 摘要 | This paper analyzes a model of capacity choice followed by price competition under demand uncertainty. Under various assumptions regarding the nature and timing of demand realizations, we obtain general predictions concerning the role of demand uncertainty on equilibrium outcomes. We show that it reduces the multiplicity of equilibria, it may rule out the existence of symmetric equilibria, and it leads to endogenous capacity asymmetries even though firms are ex-ante symmetric. Furthermore, as compared to the certainty equivalent game, demand uncertainty reduces prices and increases consumer surplus, but it also decreases total welfare because of the emergence of idle capacity. By relying on the analysis of firms' reaction functions as well as on the theory of submodular games, we are able to show that a subgame perfect equilibrium always exists and to fully characterize it. |
| 主题 | Industrial Organization |
| 关键词 | investment Price competition Demand uncertainty Submodular game |
| URL | https://cepr.org/publications/dp6084 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/534923 |
| 推荐引用方式 GB/T 7714 | Klaus F. Zimmermann,Holger Bonin,Amelie Constant,et al. DP6084 Ethnic Persistence, Assimilation and Risk Proclivity. 2007. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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