Oblivious equilibrium for concentrated industries.
This article explores the application of oblivious equilibrium (OE) to highly concentrated markets. We define a natural extended notion of OE, called partially oblivious equilibrium (POE), that allows for there to be a set of strategically important firms (the 'dominant' firms), whose firm states ar...
| Publicado en: | RAND Journal of Economics (Wiley-Blackwell) Vol. 46; no. 4; pp. 671 - 709 |
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| Autores principales: | , , |
| Formato: | Artículo |
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Wiley-Blackwell
Winter2015
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| Materias: | |
| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=110525977&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 110525977 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 07416261 56RJ jtl: RAND Journal of Economics (Wiley-Blackwell) issn: 07416261 maglogo: Y pubinfo: dt: Winter2015 vid: 46 iid: 4 pid: 480 pub: Wiley-Blackwell artinfo: ui: 110525977 10.1111/1756-2171.12102 ppf: 671 ppct: 38 formats: fmt: – @attributes: type: T – @attributes: type: P size: 1.7MB tig: atl: Oblivious equilibrium for concentrated industries. aug: au: Benkard, C. Lanier Jeziorski, Przemyslaw Weintraub, Gabriel Y. affil: Stanford University and NBER University of California at Berkeley Columbia University su: Economic equilibrium Industrial organization (Economic theory) Organizational behavior Economic models Econometrics sug: subj: Economic equilibrium Industrial organization (Economic theory) Organizational behavior Economic models Econometrics ab: This article explores the application of oblivious equilibrium (OE) to highly concentrated markets. We define a natural extended notion of OE, called partially oblivious equilibrium (POE), that allows for there to be a set of strategically important firms (the 'dominant' firms), whose firm states are always monitored by every other firm in the market. We perform computational experiments that explore the characteristics of POE, OE, and Markov perfect equilibrium (MPE), and find that POE generally performs well in highly concentrated markets. We also derive error bounds for evaluating the performance of POE for cases where MPE cannot be computed. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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