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On the unique d1 equilibrium in the Stackelberg model with asymmetric information

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Author Info
Janssen, M.C.W.
Maasland, E. (Tilburg University, Center for Economic Research)

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Abstract

This note studies a version of the Stackelberg model in which the Leader has more information about demand than the Follower. We show that there exists a unique D1 equilibrium and that this equilibrium is perfectly reveal-ing. We also give a full characterization of the equilibrium in terms of the posterior beliefs of the Follower and show under which condition there is first mover disadvantage.

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Paper provided by Tilburg University, Center for Economic Research in its series Discussion Paper with number 106.

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Date of creation: 1997
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Handle: RePEc:dgr:kubcen:1997106

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Web page: http://center.uvt.nl

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Related research
Keywords: Stackelberg competition;

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Find related papers by JEL classification:
C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games
D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information
L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General

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  1. Mailath George J., 1993. "Endogenous Sequencing of Firm Decisions," Journal of Economic Theory, Elsevier, vol. 59(1), pages 169-182, February. [Downloadable!] (restricted)
  2. Daughety, Andrew F & Reinganum, Jennifer F, 1994. "Asymmetric Information Acquisition and Behavior in Role Choice Models: An Endogenously Generated Signaling Game," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 35(4), pages 795-819, November. [Downloadable!] (restricted)
  3. Ramey, Garey, 1996. "D1 Signaling Equilibria with Multiple Signals and a Continuum of Types," Journal of Economic Theory, Elsevier, vol. 69(2), pages 508-531, May. [Downloadable!] (restricted)
  4. Gal-Or, Esther, 1987. "First Mover Disadvantages with Private Information," Review of Economic Studies, Blackwell Publishing, vol. 54(2), pages 279-92, April. [Downloadable!] (restricted)
  5. Cho, In-Koo & Kreps, David M, 1987. "Signaling Games and Stable Equilibria," The Quarterly Journal of Economics, MIT Press, vol. 102(2), pages 179-221, May. [Downloadable!] (restricted)
  6. Cho, In-Koo & Sobel, Joel, 1990. "Strategic stability and uniqueness in signaling games," Journal of Economic Theory, Elsevier, vol. 50(2), pages 381-413, April. [Downloadable!] (restricted)
  7. Banks, Jeffrey S & Sobel, Joel, 1987. "Equilibrium Selection in Signaling Games," Econometrica, Econometric Society, vol. 55(3), pages 647-61, May. [Downloadable!] (restricted)
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  8. Mailath, George J, 1987. "Incentive Compatibility in Signaling Games with a Continuum of Types," Econometrica, Econometric Society, vol. 55(6), pages 1349-65, November. [Downloadable!] (restricted)
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This page was last updated on 2009-11-25.

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