Issue 4

December 1992

Horizontal Mergers in Spatially Differentiated Noncooperative Markets

We present a Cournot-Nash model of horizontal mergers between firms that engage in spatial price discrimination.

Persistence of Leadership in Product Innovation

In a 3-firm model of vertical product differentiation, three distinct patterns of market shares emerge as an equilibrium outcome, reflecting three distinct strategies in respect of timing of the intro

A Dynamic Theory of Conjectural Variations

This paper explores the relationship between dynamic oligopolistic competition and static conjectural variations equilibria.

Sequential Entry with Brand Loyalty Caused by Consumer Learning-by-Using

We examine first mover advantages in a new product market with sequential entry.

The Variation of Productivity within British and German Industries

Unweighted average labour productivities indicate an even larger German advantage over Britain than the usual employment-weighted averages.

Barrier and Queue Effects: A Study of Leading Us Supermarket Chain Entry Patterns

De novo entry into local markets by the top twenty US supermarket chains is examined using logit analysis.

Effects of Cost Changes on Oligopolists' Profits

This paper considers cost changes affecting all firms in a constant-returns-to-scale Cournot oligopoly. Cost increases may paradoxically benefit some or even all firms.