On uncertainty when it affects successive markets
In this paper, we examine how uncertainty can affect successive mar- kets, when uncertainty can jointly influence both the upstream and down- stream markets conditions. The main result of the paper is that the equi- librium input and output quantities under stochastic dependence can be higher or lower than the corresponding quantities in the case of certainty equivalence depending on how much dependent are the events.
|Date of creation:||2009|
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- Jean J. Gabszewicz & Sougata Poddar, 1997.
"Demand fluctuations and capacity utilization under duopoly,"
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- Veronika Grimm & Gregor Zoettl, 2006. "Capacity Choice under Uncertainty: The Impact of Market Structure," Working Paper Series in Economics 23, University of Cologne, Department of Economics. Full references (including those not matched with items on IDEAS)
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