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Double Bertrand competition among intermediaries when consumers can default

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  • Frederique Bracoud

    ()
    (Keele University)

Abstract

This paper models a sequential double price competition among intermediaries when their expected revenue per sale is affected by consumers' default. If this revenue is non-monotonic with the asking price, the Walrasian outcome may not be an equilibrium and demand rationing may emerge instead.

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File URL: http://www.accessecon.com/pubs/EB/2007/Volume4/EB-05D40005A.pdf
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Bibliographic Info

Article provided by AccessEcon in its journal Economics Bulletin.

Volume (Year): 4 (2007)
Issue (Month): 7 ()
Pages: 1-16

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Handle: RePEc:ebl:ecbull:eb-05d40005

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Keywords: Bertrand Competition;

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References

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  1. Linda Toolsema, 2001. "Reserve requirements and double Bertrand competition among banks," Applied Economics Letters, Taylor & Francis Journals, Taylor & Francis Journals, vol. 8(5), pages 291-293.
  2. Stahl, Dale O, II, 1988. "Bertrand Competition for Inputs and Walrasian Outcomes," American Economic Review, American Economic Association, American Economic Association, vol. 78(1), pages 189-201, March.
  3. Xavier Freixas & Jean-Charles Rochet, 1997. "Microeconomics of Banking," MIT Press Books, The MIT Press, The MIT Press, edition 1, volume 1, number 0262061937, December.
  4. Yanelle, Marie-Odile, 1989. "The strategic analysis of intermediation," European Economic Review, Elsevier, Elsevier, vol. 33(2-3), pages 294-301, March.
  5. Frédérique Bracoud, 2002. "Sequential Models of Bertrand Competition for Deposits and Loans under Asymmetric Information," Game Theory and Information, EconWPA 0211002, EconWPA.
  6. Stiglitz, Joseph E & Weiss, Andrew, 1981. "Credit Rationing in Markets with Imperfect Information," American Economic Review, American Economic Association, American Economic Association, vol. 71(3), pages 393-410, June.
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Cited by:
  1. Ruiz-Porras, Antonio, 2008. "Los beneficios del liderazgo en el mercado de depósitos bancarios: Una comparación entre Cournot y Stackelberg
    [The benefits of leadership in the banking deposit market: A comparison between Cour
    ," MPRA Paper 11351, University Library of Munich, Germany.

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