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Sequential versus simultaneous choice with endogenous quality

Article Abstract:

The way the timing of investment influences the classes of quality selected by companies is examined. It was found that in a prototype having perpendicular quality differentiation, a game with successive quality choice stimulates both companies to undertake more limited quality investments than they would in a game having concurrent quality choice. In addition, it is demonstrated that while collective profit is greater, the consumer and social excess are lesser under successive quality choice.

Quality Control Management, Methods, Usage, Quality control, Business planning, Investment analysis, Securities analysis

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Dominant firms, price leadership and the measurement of monopoly welfare losses

Article Abstract:

Estimates of potential welfare losses due to monopolies have been generally accepted as comparatively insignificant. However, the basis for evaluating these losses is viewed as an inadequate measure of a monopoly's effects on welfare. Results indicate that established evaluations of monopoly welfare losses, such as Gisser (1986), which was based on the dominant firm price-leadership model, are inconclusive.

Economics, Research and Development in the Social Sciences and Humanities, Social aspects, Models, Economic aspects, Cartels, Monopolies, Price fixing, Monopolistic competition

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Cost of delay and endogenous price leadership

Article Abstract:

The effects of discounting are studied, in a standard endogenous price leadership model, where it is shown that there will be occasional changes in the identity of the leader with any cost of delay or discounting, however small. Firms with shorter reaction times will be more likely to become the price leader, as will firms with lower cost of delay if the firms' reaction times are similar.

Analysis, Influence, Price control, Price regulations, Discounts (Sales)

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