Competition and efficiency in congested markets - Info and Reading Options
By Daron Acemoglu ( 2 Sep 1967 - )
“Competition and efficiency in congested markets” Metadata:
- Title: ➤ Competition and efficiency in congested markets
- Author: Daron Acemoglu
“Competition and efficiency in congested markets” Subjects and Themes:
- Subjects: Competition - Mathematical models - Oligopolies
Edition Identifiers:
- The Open Library ID: OL5821192W
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"Competition and efficiency in congested markets" Description:
The Open Library:
"We study the efficiency of oligopoly equilibria in congested markets. The motivating examples are the allocation of network flows in a communication network or of traffic in a transportation network. We show that increasing competition among oligopolists can reduce efficiency, measured as the difference between users' willingness to pay and delay costs. We characterize a tight bound of 5/6 on efficiency in pure strategy equilibria. This bound is tight even when the number of routes and oligopolists is arbitrarily large. We also study the efficiency properties of mixed strategy equilibria"--National Bureau of Economic Research web site.
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