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Networks, law, and the paradox of cooperation

Caplan, Bryan; Stringham, Edward - 2003

of voluntary collusion (Cowen 1992, Cowen and Sutter 1999). Playing off this asymmetry, Cowen (1992) advances the novel … argument that the “free market in defense services” favored by anarcho-capitalists is a network industry where collusion is … analysis. Furthermore, libertarians’ joint beliefs on public goods and collusion are, contrary to Cowen and Sutter (1999 …

Persistent link: https://www.econbiz.de/10015223800

The Market for Fake Reviews

He, Sherry; Hollenbeck, Brett; Proserpio, Davide - 2021

We study the market for fake product reviews on Amazon.com. These reviews are purchased in large private internet groups on Facebook and other sites. We hand-collect data on these markets to characterize the types of products that buy fake reviews and then collect large amounts of data on the...

Persistent link: https://www.econbiz.de/10015231620

The Market for Fake Reviews

He, Sherry; Hollenbeck, Brett; Proserpio, Davide - 2021

We study the market for fake product reviews on Amazon.com. These reviews are purchased in large private internet groups on Facebook and other sites. We hand collect data on these markets to understand what products buy fake reviews and then collect a panel of data on these products’ ratings...

Persistent link: https://www.econbiz.de/10015252483

On the existence of the competitive equilibrium in Grossman and Shapiro (1984)

Creane, Anthony - 2020

In their seminal paper, Grossman and Shapiro (1984) assume that it is not profitable for a firm to deviate to the supercompetitive price of Salop (1979). In this paper, it is shown that this assumption is violated if, roughly, each firm reaches less than half of all consumers unless it is a...

Persistent link: https://www.econbiz.de/10015213968

Price and Quality Competition

Chioveanu, Ioana - 2009

This study considers an oligopoly model with simultaneous price and quality choice. Ex-ante homogeneous sellers compete by offering products at one of two quality levels. The consumers have heterogeneous tastes for quality: for some consumers it is efficient to buy a high quality product, while...

Persistent link: https://www.econbiz.de/10015220988

Markets with untraceable goods of unknown quality: a market failure exacerbated by globalization

McQuade, Timothy; Salant, Stephen W.; Winfree, Jason - 2009

In markets for many fruits, vegetables, and an increasing number of imported goods, consumers cannot discern the quality of a product prior to purchase and can never identify its producer. Producing high-quality, safe goods is costly for a firm and raises the collective reputation for quality...

Persistent link: https://www.econbiz.de/10015221105

Technological Progress in Races for Product Supremacy

Nguyen, Thang - 2004

How does market organization affect quality innovation efforts and social welfare? Three stochastic dynamic market structures considered are monopoly, duopoly, and social planning. Products can be either linearly or nonlinearly substitutable. The introduction of a step function allows richer...

Persistent link: https://www.econbiz.de/10015222108

Stability analysis in a Bertrand duopoly with different product quality and heterogeneous expectations

Fanti, Luciano; Gori, Luca - 2011

We study the local stability properties of a duopoly game with price competition, different product quality and heterogeneous expectations. We show that the Nash equilibrium can loose stability through a flip bifurcation when the consumer’s type range increases. This result occurs irrespective...

Persistent link: https://www.econbiz.de/10015228562

Solving payoff sets of perfect public equilibria: an example

Du, Chuang - 2012

We study an example of infinitely repeated games in which symmetric duopolistic firms produce experience goods. After consuming the products, short-run consumers only observe imperfect public information about product quality. We characterize perfect public equilibrium payoff set E(δ) of firms...

Persistent link: https://www.econbiz.de/10015231948

Optimal quality choice under uncertainty on market development

Tamini, Lota D. - 2012

This paper analyzes the impact of risk and ambiguity aversion - Knightian uncertainty - on the choice of optimal quality and timing of market entry. Irreversibility of the investment in product development is introduced in a continuous-time stochastic model applying the real option literature....

Persistent link: https://www.econbiz.de/10015233441