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Endogenous Timing in a Mixed Duopoly: Wighted Welfare and Price Competition

Listed author(s):
  • Bárcena Ruiz, Juan Carlos
  • Sedano Hoyuelos, Máximo

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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File URL: https://addi.ehu.es/handle/10810/6369
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Paper provided by Universidad del País Vasco - Departamento de Fundamentos del Análisis Económico I in its series IKERLANAK with number 2011-46.

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Date of creation: 2011
Handle: RePEc:ehu:ikerla:6369
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Order Information: Postal: Dpto. de Fundamentos del Análisis Económico I, Facultad de CC. Económicas y Empresariales, Universidad del País Vasco, Avda. Lehendakari Aguirre 83, 48015 Bilbao, Spain
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  1. 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.
  2. 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.
  3. 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.
  4. 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.
  5. 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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