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来源类型 | Discussion paper |
规范类型 | 论文 |
来源ID | DP12279 |
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 |
URL | https://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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