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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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Volume:
5943
Publication date:
2006-01-01
URN:
uuid:99efcd1c-abb6-4c18-a32f-6baf560e13b1
Local pid:
oai:economics.ouls.ox.ac.uk:11734
Language:
English

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