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This paper presents a generalized Stackelberg model of market leaderhip with noisy observation. The current prevailing Stackelberg model and Cournot market are two extreme cases of this generalized Stackelberg model. As the follower relies less on the inaccurate noisy observation and more on...
Persistent link: https://www.econbiz.de/10014158031
In contexts in which players have no priors, we analyze a learning process based on ex-post regret as a guide to understand how to play games of incomplete information under private values. The conclusions depend on whether players interact within a fixed set (fixed matching) or they are...
Persistent link: https://www.econbiz.de/10013142432
In contexts in which players have no priors, we analyze a learning process based on ex-post regret as a guide to understand how to play games of incomplete information under private values. The conclusions depend on whether players interact within a fixed set (fixed matching) or they are...
Persistent link: https://www.econbiz.de/10008688967
We study the strategic disclosure of demand information and product-market strategies of duopolists. In a setting where both firms receive information with some probability, we show that firms selectively disclose information in equilibrium in order to influence their competitorś product-market...
Persistent link: https://www.econbiz.de/10011301237
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We analyze strategic leaks due to spying out a rival’s bid in a first-price auction. Such leaks induce sequential bidding, complicated by the fact that the spy may be a counterspy who serves the interests of the spied at bidder and reports strategically distorted information. This ambiguity...
Persistent link: https://www.econbiz.de/10012507333
We analyze spying out a rival's price in a Bertrand market game with incomplete information. Spying transforms a simultaneous into a robust sequential moves game. We provide conditions for profitable espionage. The spied at firm may attempt to immunize against spying by delaying its pricing...
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