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来源类型Working Paper
规范类型报告
DOI10.3386/w28589
来源IDWorking Paper 28589
Dynamic Oligopoly Pricing with Asymmetric Information: Implications for Horizontal Mergers
Andrew Sweeting; Xuezhen Tao; Xinlu Yao
发表日期2021-03-22
出版年2021
语种英语
摘要We model differentiated product pricing by firms that possess private information about serially-correlated state variables, such as their marginal costs, and can use prices to signal information to rivals. In a dynamic game, we show that signaling can raise prices significantly above static complete information Nash levels, even when the privately observed state variables are restricted to lie in narrow ranges. We calibrate our model using data from the beer industry, and show that our model can explain changes in price levels, price dynamics and cost pass-through after the 2008 MillerCoors joint venture.
主题Microeconomics ; Market Structure and Distribution ; Economics of Information ; Industrial Organization ; Market Structure and Firm Performance ; Antitrust ; Industry Studies
URLhttps://www.nber.org/papers/w28589
来源智库National Bureau of Economic Research (United States)
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资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/586263
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Andrew Sweeting,Xuezhen Tao,Xinlu Yao. Dynamic Oligopoly Pricing with Asymmetric Information: Implications for Horizontal Mergers. 2021.
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