The Non-Robustness of the Nash-Stackelberg Equilibrium
AbstractFor a simple, standard sequential search model, the Nash-Stackelberg-Hybrid Equilibrium is shown to be non-robust when the assumption that all firms are constrained to operate the outlet is dropped. Firms open additional outlets to increase market power.
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Bibliographic InfoPaper provided by School of Economics, La Trobe University in its series Working Papers with number 1997.15.
Length: 9 pages
Date of creation: 1997
Date of revision:
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