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Organizing competition for the market

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Iossa, Elisabetta, Rey, Patrick and Waterson, Michael (2019) Organizing competition for the market. Working Paper. Coventry: University of Warwick. Department of Economics. Warwick economics research papers series (WERPS) (1188). (Unpublished)

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Official URL: https://warwick.ac.uk/fac/soc/economics/research/w...

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Abstract

The paper studies competition for the market in a setting where incumbents (and, to a lesser extent, neighboring incumbents) benet from a cost advantage. The paper first compares the outcome of staggered and synchronous tenders, before drawing the implications for market design. We find that the timing of tenders should depend on the likelihood of monopolization. When monopolization is expected, synchronous tendering is preferable, as it strengthens the pressure that entrants exercise on the monopolist. When instead other firms remain active, staggered tenderingis preferable, asitmaximizes the competitive pressure that comes from the other firms.

Item Type: Working or Discussion Paper (Working Paper)
Subjects: H Social Sciences > HD Industries. Land use. Labor
H Social Sciences > HF Commerce
Divisions: Faculty of Social Sciences > Economics
Library of Congress Subject Headings (LCSH): Letting of contracts -- Mathematical models, Markets
Series Name: Warwick economics research papers series (WERPS)
Publisher: University of Warwick. Department of Economics
Place of Publication: Coventry
ISSN: 0083-7350
Official Date: January 2019
Dates:
DateEvent
January 2019Published
Number: 1188
Number of Pages: 12
Institution: University of Warwick
Status: Not Peer Reviewed
Publication Status: Unpublished
Access rights to Published version: Open Access
RIOXX Funder/Project Grant:
Project/Grant IDRIOXX Funder NameFunder ID
340903Seventh Framework Programmehttp://dx.doi.org/10.13039/100011102

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