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Coalition-Proof Supply Function Equilibria Under Capacity Constraints

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Juan Delgado ()

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Abstract

Whereas in the absence of capacity constraints the Cournot outcome is the unique coalition-proof supply function equilibrium outcome, the presence of capacity constraints may enlarge the set of equilibrium outcomes. Interestingly, if capacities are sufficiently asymmetric the new equilibrium prices are below the Cournot price. These results have important implications for merger and privatization policies: specifically, capacity divestiture will not necessarily imply lower market prices.

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Paper provided by Universidad Carlos III, Departamento de Economía in its series Economics Working Papers with number we052314.

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Date of creation: Apr 2005
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Handle: RePEc:cte:werepe:we052314

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  4. Delgado, Juan & Moreno, Diego, 2004. "Coalition-proof supply function equilibria in oligopoly," Journal of Economic Theory, Elsevier, vol. 114(2), pages 231-254, February. [Downloadable!] (restricted)
  5. Wilson, Robert, 1979. "Auctions of Shares," The Quarterly Journal of Economics, MIT Press, vol. 93(4), pages 675-89, November. [Downloadable!] (restricted)
  6. Klemperer, Paul D & Meyer, Margaret A, 1989. "Supply Function Equilibria in Oligopoly under Uncertainty," Econometrica, Econometric Society, vol. 57(6), pages 1243-77, November. [Downloadable!] (restricted)
  7. Konishi, Hideo & Le Breton, Michel & Weber, Shlomo, 1999. "On Coalition-Proof Nash Equilibria in Common Agency Games," Journal of Economic Theory, Elsevier, vol. 85(1), pages 122-139, March. [Downloadable!] (restricted)
  8. Bernheim, B. Douglas & Peleg, Bezalel & Whinston, Michael D., 1987. "Coalition-Proof Nash Equilibria I. Concepts," Journal of Economic Theory, Elsevier, vol. 42(1), pages 1-12, June. [Downloadable!] (restricted)
  9. Jose Luis Ferreira, 1990. "A Communication-Proof Equilibrium Concept," Discussion Papers 896, Northwestern University, Center for Mathematical Studies in Economics and Management Science. [Downloadable!]
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  10. Prabal Chowdhury & Kunal Sengupta, 2004. "Coalition-proof Bertrand equilibria," Economic Theory, Springer, vol. 24(2), pages 307-324, August. [Downloadable!] (restricted)
  11. Bernheim, B. Douglas & Whinston, Michael D., 1987. "Coalition-Proof Nash Equilibria II. Applications," Journal of Economic Theory, Elsevier, vol. 42(1), pages 13-29, June. [Downloadable!] (restricted)
  12. Green, Richard J & Newbery, David M, 1992. "Competition in the British Electricity Spot Market," Journal of Political Economy, University of Chicago Press, vol. 100(5), pages 929-53, October. [Downloadable!] (restricted)
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