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Price dynamics in a two-period reputation model

  • Dragan Filipovich

    (El Colegio de México)

Registered author(s):

    This paper looks at the time-path of prices in a two-period modified version of the reputation model of Milgrom and Roberts(10) in which a non-standard price signalling stage game is substituted for the entry-deterrence game those authors work with. It shows that prices may rise or fall from one period to the next. Also, it shows that “bonding’’ is not possible in this environment.

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    File URL: http://codex.colmex.mx:8991/exlibris/aleph/a18_1/apache_media/LBBLB9UXEXB9GINF58AN5U46CPA56T.pdf
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    Article provided by El Colegio de México, Centro de Estudios Económicos in its journal Estudios Económicos.

    Volume (Year): 16 (2001)
    Issue (Month): 2 ()
    Pages: 185-201

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    Handle: RePEc:emx:esteco:v:16:y:2001:i:2:p:185-201
    Contact details of provider: Web page: http://www.colmex.mx/centros/cee/

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    1. Klein, Benjamin & Leffler, Keith B, 1981. "The Role of Market Forces in Assuring Contractual Performance," Journal of Political Economy, University of Chicago Press, vol. 89(4), pages 615-41, August.
    2. Kreps, David M & Wilson, Robert, 1982. "Sequential Equilibria," Econometrica, Econometric Society, vol. 50(4), pages 863-94, July.
    3. Mark N. Hertzendorf, 1993. "I'm Not a High-Quality Firm -- But I Play One on TV," RAND Journal of Economics, The RAND Corporation, vol. 24(2), pages 236-247, Summer.
    4. Kreps, David M. & Milgrom, Paul & Roberts, John & Wilson, Robert, 1982. "Rational cooperation in the finitely repeated prisoners' dilemma," Journal of Economic Theory, Elsevier, vol. 27(2), pages 245-252, August.
    5. Banks, Jeffrey S & Sobel, Joel, 1987. "Equilibrium Selection in Signaling Games," Econometrica, Econometric Society, vol. 55(3), pages 647-61, May.
    6. Paul R. Milgrom & John Roberts, 1984. "Price and Advertising Signals of Product Quality," Cowles Foundation Discussion Papers 709, Cowles Foundation for Research in Economics, Yale University.
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