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.

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Year of publication:	2009
Authors:	Gabszewicz, Jean ; Tarola, Ornella ; Zanaj, Skerdilajda
Institutions:	Centre de Recherche en Économie Appliquée (CREA), Faculté de droit, d'économie et de finance

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Extent:	application/pdf
Series:	CREA Discussion Paper Series.
Type of publication:	Book / Working Paper
Language:	English
Classification:	L1 - Market Structure, Firm Strategy, and Market Performance ; L12 - Monopoly; Monopolization Strategies
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008587563