Diversification and competition: financial intermediation in a large Cournot-Walras economy

Article Abstract:

An analysis of diversification and competition in large imperfect economies reveals that maximization of the rates of convergence requires the balancing of gains from better diversified intermediaries with that of the gains from more competition in the intermediation sector. Previous studies have tried to quantify convergence rates of diversification and competition but have been inconclusive. These studies, however, have found that the two quantities do converge in a perfectly competitive equilibrium but their true nature cannot be quantified.

Diversification in industry, Industrial diversification, Walrasian model

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Experimentation and competition

Article Abstract:

Analysis of firm behavior with regards experimentation for market information in competitive environments reveals that incentives to experiment are diluted compared with the monopoly case and that this effect is inversely proportional with the search cost. The study also reveals that several learning techniques may also emerge from this situation including penetration pricing, cream-skimming and cyclical pricing.

Pricing Policy, Research, Pricing, Industrial psychology, Industrial-organizational psychology

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Aggregation in a model of price competition

Article Abstract:

Firms with one product are competing for consumers in this model, which gives results for equilibrium under a variety of conditions.

Equilibrium (Physics)

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