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An Analysis of Post-Product Development Market Research and its Effects on Firms and Consumers

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Author Info
Randal Reed
Abstract

This paper examines a model of post-product development market research that allows firms to improve their information about demand curves. The process does not allow perfect information at finite expenditure levels. The model examines oligopolistic behavior and social welfare in the heterogeneous product world. The basic results derived are that investment of this type bears no externality to other firms in the market and a negative externality to consumers in the market from the improved information of the firm. These results are robust across several extensions which are presented in the paper. Conclusions for policy toward firms engaging in post-product market research are drawn for several different international market scenarios.

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File URL: http://www.kellogg.northwestern.edu/research/math/papers/996.pdf
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Paper provided by Northwestern University, Center for Mathematical Studies in Economics and Management Science in its series Discussion Papers with number 996.

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Date of creation: Aug 1992
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Handle: RePEc:nwu:cmsems:996

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  1. Li, Lode., 1985. "Cournot Oligopoly with Information Sharing," Working Papers 561, California Institute of Technology, Division of the Humanities and Social Sciences. [Downloadable!]
  2. Lode Li, 1985. "Cournot Oligopoly with Information Sharing," RAND Journal of Economics, The RAND Corporation, vol. 16(4), pages 521-536, Winter. [Downloadable!] (restricted)
  3. Gal-Or, Esther, 1985. "Information Sharing in Oligopoly," Econometrica, Econometric Society, vol. 53(2), pages 329-43, March. [Downloadable!] (restricted)
  4. William Novshek & Hugo Sonnenschein, 1982. "Fulfilled Expectations Cournot Duopoly with Information Acquisition and Release," Bell Journal of Economics, The RAND Corporation, vol. 13(1), pages 214-218, Spring. [Downloadable!] (restricted)
  5. Shapiro, Carl, 1986. "Exchange of Cost Information in Oligopoly," Review of Economic Studies, Blackwell Publishing, vol. 53(3), pages 433-46, July. [Downloadable!] (restricted)
  6. Li, Lode & McKelvey, Richard D. & Page, Talbot, 1987. "Optimal research for cournot oligopolists," Journal of Economic Theory, Elsevier, vol. 42(1), pages 140-166, June. [Downloadable!] (restricted)
  7. Kyle Bagwell & Robert W. Staiger, 1990. "Risky R&D in Oligopolistic Product Markets," Discussion Papers 872, Northwestern University, Center for Mathematical Studies in Economics and Management Science. [Downloadable!]
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