Format:
43 S.
,
graph. Darst.
Series Statement:
National Bureau of Economic Research 〈Cambridge, Mass.〉: NBER working paper series 11201
Content:
"We study the efficiency of oligopoly equilibria in congested markets. The motivating examples are the allocation of network flows in a communication network or of traffic in a transportation network. We show that increasing competition among oligopolists can reduce efficiency, measured as the difference between users' willingness to pay and delay costs. We characterize a tight bound of 5/6 on efficiency in pure strategy equilibria. This bound is tight even when the number of routes and oligopolists is arbitrarily large. We also study the efficiency properties of mixed strategy equilibria"--National Bureau of Economic Research web site.
Additional Edition:
Erscheint auch als Online-Ausgabe
Language:
English
Subjects:
Economics
URL:
Volltext
(kostenfrei)
Author information:
Acemoglu, Daron 1967-
