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Prices and information under imperfect competition

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Abstract

Imperfectly competitive product markets cannot be informationally efficient as private information has strategic implications interfering with price adjustment. This is illustrated in a duopoly model with sequential price setting where private information either leads to prices not being adjusted to all available information or to adjusted but biased prices

Topics: HC, JA
Publisher: BLACKWELL PUBL LTD
OAI identifier: oai:wrap.warwick.ac.uk:14223
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