Publication: Information advantage in cournot oligopoly
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1999-10
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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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Cournot oligopoly, Asymmetric information, Information advantage, Bayesian equilibrium, correlated equilibrium