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Nonexclusive competition and adverse selection

Author

Listed:
  • Andrea Attar

    (TSE-R - Toulouse School of Economics - UT Capitole - Université Toulouse Capitole - UT - Université de Toulouse - INRA - Institut National de la Recherche Agronomique - EHESS - École des hautes études en sciences sociales - CNRS - Centre National de la Recherche Scientifique, Università degli Studi di Roma Tor Vergata [Roma] = University of Rome Tor Vergata)

  • Thomas Mariotti

    (TSE-R - Toulouse School of Economics - UT Capitole - Université Toulouse Capitole - UT - Université de Toulouse - INRA - Institut National de la Recherche Agronomique - EHESS - École des hautes études en sciences sociales - CNRS - Centre National de la Recherche Scientifique)

  • Francois Salanie

    (TSE-R - Toulouse School of Economics - UT Capitole - Université Toulouse Capitole - UT - Université de Toulouse - INRA - Institut National de la Recherche Agronomique - EHESS - École des hautes études en sciences sociales - CNRS - Centre National de la Recherche Scientifique)

Abstract

We provide in this article a survey of recent work on competition under adverse selection and nonexclusivity, that is, when an informed buyer can simultaneously trade with several sellers. We discuss the equilibrium outcomes of different trading games, depending on whether sellers can only post linear prices, limit-orders, or convex or arbitrary tariffs. We emphasize that the existence of an equilibrium is problematic and characterize the unique entry-proof tariff.

Suggested Citation

  • Andrea Attar & Thomas Mariotti & Francois Salanie, 2018. "Nonexclusive competition and adverse selection," Post-Print hal-02100442, HAL.
    • Handle: RePEc:hal:journl:hal-02100442
    as

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