On durable goods monopolies and the Coase-Conjecture
AbstractConsider the durable goods monopoly game with uniformly distributed consumers' valuations. To establish the Coase-Conjecture in this context takes an infinite time horizon and a negligible delay between market rounds. An infinite time horizon or patience of market participants alone are not sufficient for the Coase-Conjecture, nor is an arbitrarily small delay between price offers within a finite time horizon.
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Bibliographic InfoArticle provided by Springer in its journal Review of Economic Design.
Volume (Year): 3 (1998)
Issue (Month): 3 ()
Note: Received: 20 March 1996 / Accepted: 15 December 1997
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Find related papers by JEL classification:
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
- D42 - Microeconomics - - Market Structure and Pricing - - - Monopoly
- L12 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Monopoly; Monopolization Strategies
- L13 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Oligopoly and Other Imperfect Markets
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