STRATEGIC QUALITY CHOICE UNDER UNCERTAINTY: A REAL OPTIONS APPROACH

被引：2

作者：

Pawlina, Grzegorz ^{[1
]}

Kort, Peter M. ^{[2
]}

机构：

[1] Univ Lancaster, Lancaster LA1 4YW, England

[2] Tilburg Univ, Tilburg, Netherlands

来源：

MANCHESTER SCHOOL | 2010年 / 78卷 / 01期

关键词：

QUANTITY COMPETITION; ENDOGENOUS QUALITY; PRICE; TECHNOLOGY; INVESTMENT; DUOPOLY;

D O I：

10.1111/j.1467-9957.2009.02124.x

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

In this paper we study the effects of demand uncertainty and imperfect competition on market entry and product quality choice. We allow for either fixed or flexible quality. Under a fixed quality choice, the follower chooses a higher quality provision. Quality is shown to generally increase with the volatility of demand. The strategic quality choice by the follower may trigger the exit of the leader. Furthermore, flexibility in the leader's quality choice can constitute a strategic disadvantage. Finally, the degree of horizontal differentiation between the supplied goods plays a pivotal role in determining the market structure in the long run.

引用

页码：1 / 19

页数：19

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