|
|||||
|
|
Kreps & Scheinkman with Product Differentiation |
|
| Authors: | Stephen Martin |
| Affiliation: | Department of Economics, Purdue University, West Lafayette, IN 47906, USA |
| Abstract: | Kreps and Scheinkman (1983)’s celebrated result is that in a two-stage model of a market with homogeneous products in which firms noncooperatively pick capacities in the first stage and set prices in the second stage, the equilibrium outcome is that of a one-shot Cournot game. This note derives capacity best response functions for the first stage and extends the Kreps and Scheinkman result to the case of differentiated products. |
| Keywords: | Kreps and Scheinkman capacity choice Cournot oligopoly product differentiation |
| 点击此处可从《Frontiers of Economics in China》浏览原始摘要信息 | |
| 点击此处可从《Frontiers of Economics in China》下载全文 | |