On uncertainty when it affects successive markets
AbstractIn this paper, we examine how uncertainty can affect successive mar- kets, when uncertainty can jointly influence both the upstream and down- stream markets conditions. The main result of the paper is that the equi- librium input and output quantities under stochastic dependence can be higher or lower than the corresponding quantities in the case of certainty equivalence depending on how much dependent are the events.
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Bibliographic InfoPaper provided by Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) in its series CORE Discussion Papers with number 2009027.
Date of creation: 01 Apr 2009
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Other versions of this item:
- GABSZEWICZ, Jean & TAROLA, Ornella & ZANAJ, Skerdilajda, . "On uncertainty when it affects successive markets," CORE Discussion Papers RP -2356, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Jean Gabszewicz & Ornella Tarola & Skerdilajda Zanaj, 2009. "On uncertainty when it affects successive markets," CREA Discussion Paper Series 09-13, Center for Research in Economic Analysis, University of Luxembourg.
- L1 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance
- L12 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Monopoly; Monopolization Strategies
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-03-28 (All new papers)
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