Information Advantage in Cournot Oligopoly

descriptionPublicationkeyboard_double_arrow_right Article , Research 01 Sep 2002 English Publisher:Elsevier BVJournal:Journal of Economic Theory, volume 106, pages 151-160 (issn: 0022-0531,

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Authors: Ezra Einy; Diego Moreno; Benyamin Shitovitz;

doi: 10.1006/jeth.2001.2871

handle: 10016/6168 , 10016/4225

Information Advantage in Cournot Oligopoly

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Abstract

We model an oligopolistic industry where a number of firms that are asymmetrically informed about the environment compete via quantities, and we study how the information available to a firm affects its equilibrium profits. Indeed we find that if all firms have access to the same constant returns to scale technology, in any Bayesian equilibrium the information advantage of a firm is rewarded.

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Keywords

Asymmetric information, Oligopoly, correlated equilibrium, Economía, Auctions, bargaining, bidding and selling, and other market models, information advantage, oligopoly, Information advantage, Bayesian equilibrium, Cournot competitition, Cournot oligopoly

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