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Endogenous Mode of Competition in General Equilibrium.

Abstract:

This paper endogenises the extent of intra-sectoral competition in a multi-sectoral model of oligopoly in general equilibrium. Firms choose capacity followed by prices. If the benefits of capacity investment in a given sector are below a threshold level, the sector exhibits Bertrand behaviour, otherwise it exhibits Cournot behaviour. By endogenising the threshold parameter in general equilibrium, we show how exogenous shocks alter the mix of sectors between 'more' and 'less' competitive, or B...

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Publisher:
CEPR
Volume:
5943
Series:
C.E.P.R.Discussion Papers
Host title:
C.E.P.R.Discussion Papers
Publication date:
2006-01-01
Paper number:
5943
Language:
English
UUID:
uuid:99efcd1c-abb6-4c18-a32f-6baf560e13b1
Local pid:
oai:economics.ouls.ox.ac.uk:11734
Deposit date:
2011-08-16

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