We consider dynamic oligopoly models in the spirit of Ericson and Pakes (1995). We introduce a new computationally tractable model for industries with a few dominant firms and many fringe firms. This is a prevalent market structure in consumer and industrial goods. In our model, firms keep track...

A monopolist offers a product to a market of consumers with heterogeneous quality preferences. Although initially uninformed about the product quality, they learn by observing past purchase decisions and reviews of other consumers. Our goal is to analyze the social learning mechanism and its...

A monopolist offers a product to a market of consumers with heterogeneous quality preferences. Although initially uninformed about the product quality, they learn by observing past purchase decisions and reviews of other consumers. Our goal is to analyze the social learning mechanism and its...

Two very different contractual structures are commonly observed inservice industries with congestion effects: service level guarantees(SLGs) and best effort (BE) service. We analyze the impact of thesecontractual agreements on market outcomes in oligopolistic industries.First, we consider a...

In this paper we study stochastic dynamic games with many players; these are a fundamental model for a wide range of economic applications. The standard solution concept for such games is Markov perfect equilibrium (MPE), but it is well known that MPE computation becomes intractable as the...

We investigate the impact of group formations on the efficiency of Cournot games where producers face uncertainties. In particular, we study a market model where producers must determine their output before an uncertainty production capacity is realized. In contrast to standard Cournot models,...

Aseller in an online marketplace with an effective reputation mechanism should expect that dishonest behavior results in higher payments now whereas honest behavior results in a better reputation--and thus higher payments--in the future. We study the Window Aggregation Mechanism, a widely used...