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Endogenous Timing In A Mixed Duopoly: Weighted Welfare And Price Competition




In this paper we analyse the endogenous order of moves in a mixed duopoly for differentiated goods. Firms choose whether to set prices sequentially or simultaneously. The private firm maximises profits while the public firm maximises the weighted sum of the consumer and producer surpluses (wighted welfare). It is shown that the result obtained in equilibrium depends crucially on the weigth given to the consumer surplus in weighted welfare and on the degree to which goods are substitutes or complements. We also anlyse whether the equilibria obtained maximise the sum of the consumer and producer suspluses or not. Finally we study whether the nationality of the private firm influences the results.
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Suggested Citation

  • Juan Carlos Bárcena‐Ruiz & Máximo Sedano, 2011. "Endogenous Timing In A Mixed Duopoly: Weighted Welfare And Price Competition," The Japanese Economic Review, Japanese Economic Association, vol. 62(4), pages 485-503, December.
  • Handle: RePEc:bla:jecrev:v:62:y:2011:i:4:p:485-503
    DOI: j.1468-5876.2010.00531.x

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    References listed on IDEAS

    1. Antonio Cabrales & José-Ramón Uriarte, 2013. "Doubts and equilibria," Journal of Evolutionary Economics, Springer, vol. 23(4), pages 783-810, September.
    2. Schlag, Karl H., 1998. "Why Imitate, and If So, How?, : A Boundedly Rational Approach to Multi-armed Bandits," Journal of Economic Theory, Elsevier, vol. 78(1), pages 130-156, January.
    3. Uriarte, Jose Ramon, 2007. "A behavioural foundation for models of evolutionary drift," Journal of Economic Behavior & Organization, Elsevier, vol. 63(3), pages 497-513, July.
    4. Cabrales, Antonio, 2000. "Stochastic Replicator Dynamics," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 41(2), pages 451-481, May.
    5. Pinasco, J.P. & Romanelli, L., 2006. "Coexistence of Languages is possible," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 361(1), pages 355-360.
    6. Stauffer, Dietrich & Castelló, Xavier & Eguíluz, Víctor M. & San Miguel, Maxi, 2007. "Microscopic Abrams–Strogatz model of language competition," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 374(2), pages 835-842.
    7. Patriarca, Marco & Leppänen, Teemu, 2004. "Modeling language competition," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 338(1), pages 296-299.
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    Cited by:

    1. repec:kap:jincot:v:17:y:2017:i:4:d:10.1007_s10842-017-0248-1 is not listed on IDEAS
    2. Toshihiro Matsumura & Akira Ogawa, 2017. "Inefficient but Robust Public Leadership," Journal of Industry, Competition and Trade, Springer, vol. 17(4), pages 387-398, December.
    3. Dong, Quan & Bárcena-Ruiz, Juan Carlos, 2014. "Corruption and decisions on opening up markets," Economic Modelling, Elsevier, vol. 36(C), pages 23-29.

    More about this item

    JEL classification:

    • L00 - Industrial Organization - - General - - - General
    • L30 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - General


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