Edgeworth cycles with partial price commitment

被引：2
|
作者：
de Roos, Nicolas [1 ]
机构：
[1] Univ Sydney, Sch Econ, Merewether Bldg H04, Sydney, NSW 2006, Australia
来源：
ECONOMICS LETTERS | 2017年 / 150卷
关键词：
Edgeworth cycles; Price commitment; CORRELATED BINOMIAL MODEL; OLIGOPOLY;
D O I：
10.1016/j.econlet.2016.11.023
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
The price commitment model of Maskin and Tirole (1988) provides an extensively cited foundation for Edgeworth cycles. We examine the viability of Edgeworth cycles when price commitment is partial in the sense that a subset of firms are committed to price in each period. If multiple firms are not committed in each period, then the existence of Edgeworth cycle equilibria requires a demanding convexity condition on the profit function. (C) 2016 Elsevier B.V. All rights reserved.
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页码：122 / 125
页数：4
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