dc.contributor.author | Ciarreta Antuñano, Aitor | |
dc.contributor.author | García Enríquez, Javier | |
dc.date.accessioned | 2024-01-26T11:46:46Z | |
dc.date.available | 2024-01-26T11:46:46Z | |
dc.date.issued | 2018 | |
dc.identifier.citation | Bulletin of Economic Research 70(2) : 185-203 (2018) | es_ES |
dc.identifier.issn | 1467-8586 | |
dc.identifier.issn | 0307-3378 | |
dc.identifier.uri | http://hdl.handle.net/10810/64364 | |
dc.description.abstract | [EN] Firms delegate strategic decisions to managers because they find it profitable to do so. In the product market, when agents make conjectures about the reaction of their rivals to marginal changes in their own strategies, the set of equilibriums can be enlarged with respect to the case of no conjectures. This paper takes a duopolistic linear market parameterization where firms selling differentiated products can delegate either price or output decisions to managers. We show that it is a dominant strategy for firms to delegate no matter whether firms are Cournot or Bertrand competitors, although the equilibrium is not necessarily efficient. Futhermore, in equilibrium Cournot competition is more profitable for firms than Bertrand competition. Finally, requiring consistency in conjectures yields the same outcome no matter what type of strategic interaction and managerial choice there is on the part of firms. | es_ES |
dc.description.sponsorship | Funding from the Spanish Ministry of the Economy and Competitiveness and from ERDF via research grants ECO2013-
40935-P, ECO2015-64467-R and ECO2016-76884-P and from the Basque Government through Grupo Consolidado IT383-13. | es_ES |
dc.language.iso | eng | es_ES |
dc.publisher | Wiley | es_ES |
dc.rights | info:eu-repo/semantics/openAccess | es_ES |
dc.subject | Bertrand | es_ES |
dc.subject | conjectural variations | es_ES |
dc.subject | Cournot | es_ES |
dc.subject | duopoly | es_ES |
dc.subject | strategic delegation | es_ES |
dc.title | Profitable strategic delegation with conjectural variations | es_ES |
dc.type | info:eu-repo/semantics/article | es_ES |
dc.rights.holder | © 2017 Board of Trustees of the Bulletin of Economic Research and John Wiley & Sons Ltd | es_ES |
dc.relation.publisherversion | https://onlinelibrary.wiley.com/doi/10.1111/boer.12137 | es_ES |
dc.identifier.doi | 10.1111/BOER.12137 | |
dc.departamentoes | Métodos Cuantitativos | es_ES |
dc.departamentoeu | Metodo Kuantitatiboak | es_ES |