Entry and Exit Under Demand Uncertainty
AbstractThis paper presents a dynamic model of entry and exit in competitive markets with demand uncertainty and Bayesian learning. There is a unique equilibrium path characterized by a pair of simple zero-expected profit equations.
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Bibliographic InfoPaper provided by Duke University, Department of Economics in its series Working Papers with number 97-31.
Date of creation: 1997
Date of revision:
Publication status: Published in ECONOMICS LETTERS, Vol. 57, 1997, pages 227-234
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- L1 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance
- D8 - Microeconomics - - Information, Knowledge, and Uncertainty
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- Andrew Eckert & Douglas West, 2008. "Firm Survival and Chain Growth in a Privatized Retail Liquor Store Industry," Review of Industrial Organization, Springer, vol. 32(1), pages 1-18, February.
- Hanazono, Makoto & Yang, Huanxing, 2009. "Dynamic entry and exit with uncertain cost positions," International Journal of Industrial Organization, Elsevier, vol. 27(3), pages 474-487, May.
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