Does timing of decisions in a mixed duopoly matter

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1、JEconDOI10.1007/s00712-011-0252-6Doestimingofdecisionsinamixedduopolymatter?TamásLászlóBalogh·AttilaTasnádiReceived:19May2011/Accepted:31October2011©Springer-Verlag2011AbstractWedeterminetheendogenousorderofmovesinamixedprice-settingduopoly.Incontrasttotheexistingliteratureonmixedoligop

2、oliesweestablishthepayoffequivalenceofthegameswithanexogenouslygivenorderofmovesifthemostplausibleequilibriumisrealizedinthemarket.Hence,inthiscaseitdoesnotmatterwhetheronebecomesaleaderorafollower.WealsoestablishthatreplacingaprivatefirmbyapublicfirminthestandardBertrand–Edgeworthgamewit

3、hcapacityconstraintsincreasessocialwelfareandthatapure-strategyequilibriumalwaysexists.KeywordsBertrand–Edgeworth·Mixedduopoly·TiminggamesJELClassificationD43·L131IntroductionTheearlyliteratureonmixedoligopoliesconsideredgameswithapredeterminedorderofmovesandinvestigatedmarketregulationp

4、ossibilitiesthroughapublicfirm,espe-cially,inordertoincreasesocialwelfare.Forinstance,Cremeretal.(1989)analyzetheregulationofasimultaneous-movequantity-settingoligopolymarketforwhichtheyreportthatthemarketoutcomeisequivalenttothesolution,inwhichthecentralauthor-itymaximizestotalsurplussu

5、bjecttotheconstraintsthatthepublicfirmsmustbreakT.L.BaloghDepartmentofEconomicAnalysisandBusinessInformatics,UniversityofDebrecen,Kassaiút26,Debrecen4028,Hungarye-mail:tamas.balogh@econ.unideb.huA.Tasnádi(B)DepartmentofMathematics,CorvinusUniversityofBudapest,F˝ovámtér8,Budapest1093,Hung

6、arye-mail:attila.tasnadi@uni-corvinus.hu123T.L.Balogh,A.Tasnádieven.FrajaandDelbono(1989)showforamixedquantity-settinghomogeneousgoodoligopolythatpublicleadershipleadstohighersocialwelfarethanthesimultaneous-movemixedorstandardoligopolies.1However,comparingthesimultaneous-movecasewithor

7、withoutapublicfirmleadstoanambivalentresult:itcanhappenthatiftherearesufficientlymanyidenticalfirmsonthemarket,thenthepublicfirmisbetteradvisedtomaximizeitsprofitsinordertoincreasesocialwelfare.Remaininginthequantity-settingframework,CorneoandJeanne(1994)deriveconditionsunderwhicht