Title of article
Efficiency of dynamic quantity competition: A remark on Markovian equilibria
Author/Authors
Lahmandi-Ayed، نويسنده , , Rim; Ponssard، نويسنده , , Jean-Pierre; Sevy، نويسنده , , David ، نويسنده ,
Issue Information
روزنامه با شماره پیاپی سال 1996
Pages
9
From page
213
To page
221
Abstract
This paper extends Maskin and Tirole analysis of dynamic quantity competition in terms of Markov perfect equilibria to the case in which firms have different fixed costs. It is proved that allocative efficiency still prevails but not productive efficiency.
Keywords
Dynamic oligopoly , Efficiency , Markov equilibria
Journal title
Economics Letters
Serial Year
1996
Journal title
Economics Letters
Record number
434054
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