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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 (Unpublished)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...
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) | ||||||
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| Subjects: | H Social Sciences > HD Industries. Land use. Labor H Social Sciences > HF Commerce |
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| 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: |
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| Number: | 1188 | ||||||
| Number of Pages: | 12 | ||||||
| Institution: | University of Warwick | ||||||
| Status: | Not Peer Reviewed | ||||||
| Publication Status: | Unpublished | ||||||
| Access rights to Published version: | Open Access (Creative Commons) | ||||||
| Date of first compliant deposit: | 12 March 2018 | ||||||
| Date of first compliant Open Access: | 12 March 2018 | ||||||
| RIOXX Funder/Project Grant: |
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