On durable goods monopolies and the Coase-Conjecture
Consider the durable goods monopoly game with uniformly distributed consumers' valuations. To establish the Coase-Conjecture in this context takes an infinite time horizon and a negligible delay between market rounds. An infinite time horizon or patience of market participants alone are not sufficient for the Coase-Conjecture, nor is an arbitrarily small delay between price offers within a finite time horizon.
Volume (Year): 3 (1998)
Issue (Month): 3 ()
|Note:||Received: 20 March 1996 / Accepted: 15 December 1997|
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