English, Article, Journal or magazine article edition: Auctions of Licences and Market Structure Gustavo Rodríguez

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Bookmark: http://trove.nla.gov.au/version/153999
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Auctions of Licences and Market Structure
Author
  • Gustavo Rodríguez
Physical Description
  • preprint
Notes
  • This paper studies sequential auctions of licences to operate in a market where those firms that obtain at least one licence then engage in a symmetric market game. I employ a new refinement of Nash equilibrium, the concept of {\sl Markovian recursively undominated equilibrium}. The unique solution satisfies the following properties: (i) when several firms own licences before the auction (incumbents), new entrants buy licences in each stage, and (ii) when there is no more than one incumbent, either the single firm preempts entry altogether or entry occurs in every stage, depending on the parameter configuration.
  • Auctions, game theory, industrial organization
  • RePEc:upf:upfgen:209
Language
  • English
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