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    Competitive externalities in dynamic monopolies with stochastic demand

    Beckert, Walter (2006) Competitive externalities in dynamic monopolies with stochastic demand. B.E. Journal of Theoretical Economics 6 (1), ISSN 1935-1704.

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    This paper analyzes equilibria in sequential take-it-or-leave-it sales when demand is stochastic. It is shown that equilibria in this sales mechanism, unlike in sequential auctions, trade-off allocative efficiency and competing buyers' opportunities to acquire an item to be sold, permitting prices and expected revenue above those of one-shot offers. Hence Coase-type conjectures are invalid in this setting.


    Item Type: Article
    School: Birkbeck Faculties and Schools > Faculty of Business and Law > Birkbeck Business School
    Depositing User: Sarah Hall
    Date Deposited: 02 Jun 2020 07:59
    Last Modified: 02 Aug 2023 18:00


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