Competition and efficiency in congested markets
by Daron Acemoglu
"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.
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Competition, Mathematical models, Oligopolies| Edition | Availability |
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Competition and efficiency in congested markets
2005, National Bureau of Economic Research
Electronic resource
in English
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Includes bibliographical references.
Title from PDF file as viewed on 3/31/2005.
Also available in print.
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Mode of access: World Wide Web.
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| December 13, 2020 | Edited by MARC Bot | import existing book |
| December 5, 2010 | Edited by Open Library Bot | Added subjects from MARC records. |
| December 10, 2009 | Created by WorkBot | add works page |