G2TT
来源类型Discussion paper
规范类型论文
来源IDDP12279
DP12279 How Efficient is Dynamic Competition? The Case of Price as Investment
Ulrich Doraszelski; David Besanko; Yaroslav Kryukov
发表日期2017-09-07
出版年2017
语种英语
摘要We study industries where the price that a firm sets serves as an investment into lower cost or higher demand. We assess the welfare implications of the ensuing competition for the market using analytical and numerical approaches to compare the equilibria of a learning-by-doing model to the first-best planner solution. We show that dynamic competition leads to low deadweight loss. This cannot be attributed to similarity between the equilibria and the planner solution. Instead, we show how learning-by-doing causes the various contributions to deadweight loss to either be small or partly offset each other
主题Industrial Organization
关键词Industry dynamics Markov perfect equilibrium Price as investment Competition for the market Predatory pricing Welfare
URLhttps://cepr.org/publications/dp12279
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/541090
推荐引用方式
GB/T 7714
Ulrich Doraszelski,David Besanko,Yaroslav Kryukov. DP12279 How Efficient is Dynamic Competition? The Case of Price as Investment. 2017.
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