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Too Much Information Sharing? Welfare Effects of Sharing Acquired Cost Information in Oligopoly

  • Juan-José Ganuza
  • Jos Jansen
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    By using general information structures and precision criteria based on the dispersion of conditional expectations, we study how oligopolists' information acquisition decisions may change the effects of information sharing on the consumer surplus. Sharing information about individual cost parameters gives the following trade-off in Cournot oligopoly. On the one hand, it decreases the expected consumer surplus for a given information precision, as the literature shows. On the other hand, information sharing increases the firms' incentives to acquire information, and the consumer surplus increases in the precision of the firms' information. Interestingly, the latter effect may dominate the former effect.

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    File URL: http://ockenfels.uni-koeln.de/fileadmin/wiso_fak/stawi-ockenfels/pdf/wp_series_download/wp0054.pdf
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    Paper provided by University of Cologne, Department of Economics in its series Working Paper Series in Economics with number 54.

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    Date of creation: 18 Apr 2012
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    Handle: RePEc:kls:series:0054
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