Justifiability of Bayesian Implementation in Oligopolistic Markets
AbstractWe show that in oligopolistic markets the social choice correspondence which selects all socially efficient outcomes is Nash implementable if the number of firms is at least two. Thus, monopoly regulation whenever consumers are favored by the designer or the society is the only framework, among all oligopolistic regulatory models, where Bayesian approach is indispensable.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 4459.
Date of creation: 1997
Date of revision:
Bayesian Implementation; Nash Implementation; Asymmetric Information; Oligopoly; Regulation;
Find related papers by JEL classification:
- D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
- D70 - Microeconomics - - Analysis of Collective Decision-Making - - - General
- L50 - Industrial Organization - - Regulation and Industrial Policy - - - General
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