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We analyze a vertically differentiated market for an imperfectly durable good served by a monopolist in an infinite-horizon, discrete-time game. Our goal is to identify the Markov perfect stationary equilibria where the seller can maintain his monopoly power. We establish that the set of...
Persistent link: https://www.econbiz.de/10013200021
differentiation. There are studies in which the authors limit their considerations to a certain number of repetitions of oligopolistic …
Persistent link: https://www.econbiz.de/10014418202
We analyze a vertically differentiated market for an imperfectly durable good served by a monopolist in an infinite-horizon, discrete-time game. Our goal is to identify the Markov perfect stationary equilibria where the seller can maintain his monopoly power. We establish that the set of...
Persistent link: https://www.econbiz.de/10012431895
Horizontal differentiation is generally derived from the aggregate utility function and is assumed to be symmetric …. However, empirical work suggests that asymmetric horizontal differentiation can exist in practice. This paper examines the … topic of asymmetric horizontal differentiation by allowing a firm's costly advertising to have a different impact on its own …
Persistent link: https://www.econbiz.de/10013252741