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UID:1adbf746d7cbdc1acb4c8378b929647b
CATEGORIES:Seminars
CREATED:20180213T160723
SUMMARY:Lunch Seminar: Mark Armstrong - University of Oxford
DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Competition with Captive Customers (with John Vickers)\nAbstract: \nWe anal
 yse competition in settings where customers vary in how many price offers t
 hey compare; some are ‘captive’ to just one supplier.  Allowing firms to di
 scriminate between customer types (captive or not) is bad for consumers ove
 rall when firms are symmetric and consumers cannot affect how many offers t
 hey see, but may be good otherwise.  The effects of entry by a new firm dep
 end on its pattern – i.e. which consumer segments the entrant serves.  Entr
 y within a non-captive segment is bad for consumers, but entry is pro-consu
 mer in the case of ‘independent reach’, for which we also examine merger ef
 fects.  A different type of mixed strategy equilibrium appears in the case 
 of ‘nested reach’, with different firms competing in high and low price ran
 ges.  To explore how market outcomes depend on the pattern of competition, 
 we solve the general three-firm case.\n
DTSTAMP:20260404T125320Z
DTSTART:20180227T130000Z
DTEND:20180227T140000Z
SEQUENCE:0
TRANSP:OPAQUE
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