Möller, Marc; Watanabe, Makoto (2016). Competition in the presence of individual demand uncertainty. The RAND Journal of Economics, 47(2), pp. 273-292. Wiley 10.1111/1756-2171.12127
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This article offers a tractable model of (oligopolistic) competition in differentiated product markets characterized by individual demand uncertainty. The main result shows that, in equilibrium, firms offer advance purchase discounts and that these discounts are larger than in the monopolistic benchmark. Competition reduces welfare by increasing the fraction of consumers who purchase in advance, that is, without (full) knowledge of their preferences.
Item Type: |
Journal Article (Original Article) |
|---|---|
Division/Institute: |
03 Faculty of Business, Economics and Social Sciences > Department of Economics |
UniBE Contributor: |
Möller, Marc |
Subjects: |
300 Social sciences, sociology & anthropology > 330 Economics |
ISSN: |
1756-2171 |
Publisher: |
Wiley |
Language: |
English |
Submitter: |
Dino Collalti |
Date Deposited: |
11 Jul 2017 15:18 |
Last Modified: |
05 Dec 2022 15:01 |
Publisher DOI: |
10.1111/1756-2171.12127 |
BORIS DOI: |
10.7892/boris.93186 |
URI: |
https://boris.unibe.ch/id/eprint/93186 |
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