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The Non-Robustness of the Nash-Stackelberg Equilibrium

Author

Listed:
  • David Prentice

    (Department of Economics and Finance, La Trobe University)

Abstract

For a simple, standard sequential search model, the Nash-Stackelberg-Hybrid Equilibrium is shown to be non-robust when the assumption that all firms are constrained to operate the outlet is dropped. Firms open additional outlets to increase market power.

Suggested Citation

  • David Prentice, 1997. "The Non-Robustness of the Nash-Stackelberg Equilibrium," Working Papers 1997.15, School of Economics, La Trobe University.
  • Handle: RePEc:ltr:wpaper:1997.15
    as

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    References listed on IDEAS

    as
    1. Stahl, Dale O., 1996. "Oligopolistic pricing with heterogeneous consumer search," International Journal of Industrial Organization, Elsevier, vol. 14(2), pages 243-268.
    2. Rafael Rob, 1985. "Equilibrium Price Distributions," Review of Economic Studies, Oxford University Press, vol. 52(3), pages 487-504.
    3. Stiglitz, Joseph E, 1987. "Competition and the Number of Firms in a Market: Are Duopolies More Competitive than Atomistic Markets?," Journal of Political Economy, University of Chicago Press, vol. 95(5), pages 1041-1061, October.
    4. Stahl, Dale O, II, 1989. "Oligopolistic Pricing with Sequential Consumer Search," American Economic Review, American Economic Association, vol. 79(4), pages 700-712, September.
    5. West, Douglas S, 1992. "An Empirical Analysis of Retail Chains and Shopping Center Similarity," Journal of Industrial Economics, Wiley Blackwell, vol. 40(2), pages 201-221, June.
    6. Prentice, David & Sibly, Hugh, 1996. "A Search-Theoretic Interpretation of Multi-outlet Retailers," The Economic Record, The Economic Society of Australia, vol. 72(219), pages 359-369, December.
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