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Simultaneous vs. sequential price competition with incomplete information

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Author Info
Arozamena, Leandro
Weinschelbaum, Federico

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Abstract

We compare equilibria with sequential and simultaneous moves under homogeneous-good Bertrand competition when unit costs are private information. Under an alternative interpretation, we examine the consequences of awarding a right of first refusal in a first-price procurement auction with endogenous quantity.

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File URL: http://www.sciencedirect.com/science/article/B6V84-4VXTSDN-1/2/57c40474e6cc4b4416f4aec264ffefff
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Publisher Info
Article provided by Elsevier in its journal Economics Letters.

Volume (Year): 104 (2009)
Issue (Month): 1 (July)
Pages: 23-26
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Handle: RePEc:eee:ecolet:v:104:y:2009:i:1:p:23-26

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Web page: http://www.elsevier.com/locate/ecolet

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Related research
Keywords: Oligopoly Auctions with endogenous quantity Right of first refusal Second-mover advantage;

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References listed on IDEAS
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  1. Leandro Arozamena & Federico Weinschelbaum, 2006. "A note on the suboptimality of right-of-first-refusal clauses," Economics Bulletin, Economics Bulletin, vol. 4(24), pages 1-5. [Downloadable!]
  2. Amir, Rabah & Grilo, Isabel, 1999. "Stackelberg versus Cournot Equilibrium," Games and Economic Behavior, Elsevier, vol. 26(1), pages 1-21, January. [Downloadable!] (restricted)
  3. Bondonio, Daniele, 2002. "Evaluating the Employment Impact of Business Incentive Programs in EU Disadvantaged Areas. A case from Northern Italy," P.O.L.I.S. department's Working Papers 27, Department of Public Policy and Public Choice - POLIS. [Downloadable!]
  4. Sushil Bikhchandani & Steven A. Lippman & Reade Ryan, 2005. "On the Right-of-First-Refusal," The B.E. Journal of Theoretical Economics, Berkeley Electronic Press, vol. 0(1). [Downloadable!]
  5. Hamilton, Jonathan H. & Slutsky, Steven M., 1990. "Endogenous timing in duopoly games: Stackelberg or cournot equilibria," Games and Economic Behavior, Elsevier, vol. 2(1), pages 29-46, March. [Downloadable!] (restricted)
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  6. Kyle Bagwell, 1992. "Commitment and Observability in Games," Discussion Papers 1014, Northwestern University, Center for Mathematical Studies in Economics and Management Science. [Downloadable!]
  7. Mailath George J., 1993. "Endogenous Sequencing of Firm Decisions," Journal of Economic Theory, Elsevier, vol. 59(1), pages 169-182, February. [Downloadable!] (restricted)
  8. Robert G. Hansen, 1988. "Auctions with Endogenous Quantity," RAND Journal of Economics, The RAND Corporation, vol. 19(1), pages 44-58, Spring. [Downloadable!] (restricted)
  9. Steve Dowrick, 1986. "von Stackelberg and Cournot Duopoly: Choosing Roles," RAND Journal of Economics, The RAND Corporation, vol. 17(2), pages 251-260, Summer. [Downloadable!] (restricted)
  10. Giovanni Maggi, 1999. "The Value of Commitment with Imperfect Observability and Private Information," RAND Journal of Economics, The RAND Corporation, vol. 30(4), pages 555-574, Winter. [Downloadable!] (restricted)
  11. Gal-Or, Esther, 1985. "First Mover and Second Mover Advantages," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 26(3), pages 649-53, October. [Downloadable!] (restricted)
  12. Lofaro, Andrea, 2002. "On the efficiency of Bertrand and Cournot competition under incomplete information," European Journal of Political Economy, Elsevier, vol. 18(3), pages 561-578, September. [Downloadable!] (restricted)
  13. Dastidar, Krishnendu Ghosh, 2004. "On Stackelberg games in a homogeneous product market," European Economic Review, Elsevier, vol. 48(3), pages 549-562, June. [Downloadable!] (restricted)
  14. van Damme, Eric & Hurkens, Sjaak, 1999. "Endogenous Stackelberg Leadership," Games and Economic Behavior, Elsevier, vol. 28(1), pages 105-129, July. [Downloadable!] (restricted)
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  15. Mark Bagnoli & Ted Bergstrom, 2005. "Log-concave probability and its applications," Economic Theory, Springer, vol. 26(2), pages 445-469, 08. [Downloadable!] (restricted)
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  16. Amir, Rabah & Stepanova, Anna, 2006. "Second-mover advantage and price leadership in Bertrand duopoly," Games and Economic Behavior, Elsevier, vol. 55(1), pages 1-20, April. [Downloadable!] (restricted)
    Other versions:
  17. Maskin, Eric S & Riley, John G, 1984. "Optimal Auctions with Risk Averse Buyers," Econometrica, Econometric Society, vol. 52(6), pages 1473-1518, November. [Downloadable!] (restricted)
    Other versions:
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