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
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...
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Funded by
Algorithmic Performance Guarantees: Foundations and Applications
  • Funder: European Commission (EC)
  • Project Code: 691672
  • Funding stream: H2020 | ERC | ERC-ADG
  • Funder: Natural Sciences and Engineering Research Council of Canada (NSERC)

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