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Entry and market selection of firms: a laboratory study

[Zeitschriftenartikel]

Brandts, Jordi; Giritligil, Ayça Ebru

Zitationshinweis

Bitte beziehen Sie sich beim Zitieren dieses Dokumentes immer auf folgenden Persistent Identifier (PID):http://nbn-resolving.de/urn:nbn:de:0168-ssoar-277422

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Abstract We study how markets adjust to the entry of new firms under different conditions. Two incumbents face entry by three other firms. When firms' costs are equal, entry always leads consumer surplus and profits to their equilibrium levels. When entrants are more efficient than incumbents, entry leads consumer surplus to equilibrium. With cost asymmetries, market behavior is satisfactory from the consumers’ standpoint but does not yield adequate signals to other potential entrants. Simultaneous entry is in the short run more favorable to consumers than sequential entry. A longer incumbency phase favors consumers after entry.
Klassifikation Volkswirtschaftslehre; Management
Freie Schlagwörter Market selection; Imperfect competititon; Entry; Experiments; C09; C72; D43; D83; L13
Sprache Dokument Englisch
Publikationsjahr 2008
Seitenangabe S. 593-612
Zeitschriftentitel Journal of Economic Behavior & Organization, 68 (2008) 3-4
DOI http://dx.doi.org/10.1016/j.jebo.2008.06.012
Status Postprint; begutachtet (peer reviewed)
Lizenz PEER Licence Agreement (applicable only to documents from PEER project)
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