Double Bertrand Competition among Intermediaries
This paper extends Stahl (1988) by modelling a sequential price competition among intermediaries when their expected revenue per sale is affected by consumers’s default. If this revenue is non-monotonie with the asking price, theWalrasian outcome may not be an equilibrium and demand rationing may emerge instead.
|Date of creation:||Dec 2003|
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|Order Information:|| Postal: Centre for Economic Research, Research Institute for Public Policy and Management, Keele University, Staffordshire ST5 5BG - United Kingdom|
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