Endogenous Structures of Association in Oligopolies
The formulation of associations of firms in an oligopoly with linear demand is analyzed as a two-stage noncooperative game. In the first stage, firms form associations in order to decrease their costs, and in the second stage they compete on the market. Examples of associations include R&D joint ventures and groups of firms adopting common standards. In equilibrium, the associations formed exhibit two general features: they are asymmetric and inefficient.
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Volume (Year): 26 (1995)
Issue (Month): 3 (Autumn)
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