publication . Part of book or chapter of book . Article . Book . Conference object . Preprint . 2017

Networked Markets and Relational Contracts

12th International Conference, WINE 2016, Montreal, Canada, December 11-14, 2016, Proceedings
Yinyu Ye; Qi Qi; Tie-Yan Liu;
Open Access English
  • Published: 01 Jan 2017
  • Publisher: HAL CCSD
Abstract
A durable good is a long-lasting good that can be consumed repeatedly over time, and a duropolist is a monopolist in the market of a durable good. In 1972, Ronald Coase conjectured that a duropolist who lacks commitment power cannot sell the good above the competitive price if the time between periods approaches zero. Coase's counterintuitive conjecture was later proven by Gul et al. (1986) under an infinite time horizon model with non-atomic consumers. Remarkably, the situation changes dramatically for atomic consumers and an infinite time horizon. Bagnoli et al. (1989) showed the existence of a subgame-perfect Nash equilibrium where the duropolist extracts all...
Subjects
free text keywords: [SHS.ECO]Humanities and Social Sciences/Economics and Finance, [SHS]Humanities and Social Sciences, Theoretical Computer Science, Computer Science(all), Computer Science - Computer Science and Game Theory, Empirical research, Microeconomics, Stationary distribution, Social capital, Actuarial science, Markov process, symbols.namesake, symbols, Economics, Cheating, Incentive compatibility, Short run, Recession, media_common.quotation_subject, media_common, The Internet, business.industry, business, World Wide Web, Time horizon, Durable good, Coase theorem, Profit (economics), Mathematical economics, Economic surplus, Nash equilibrium, Monopoly, Conjecture, Wine, Library science, Political science, Game theory, Web navigation, Web Accessibility Initiative, Web development, Internet privacy, Web standards, Web of Things, Internet presence management, Internet research, Web application security, Computer science
Funded by
EC| APEG
Project
APEG
Algorithmic Performance Guarantees: Foundations and Applications
  • Funder: European Commission (EC)
  • Project Code: 691672
  • Funding stream: H2020 | ERC | ERC-ADG
,
NSERC
Project
  • Funder: Natural Sciences and Engineering Research Council of Canada (NSERC)

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