Learning about Common and Private Values in Oligopoly

Abstract

We characterize a duopoly buffeted by demand and cost shocks. Firms learn about shocks from common observation, private observation, and noisy price signals. Firms internalize how outputs affect a rival’s signal, and hence output. We distinguish how the nature of information—public versus private—and of what firms learn about—common versus private values… (More)

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Cite this paper

@inproceedings{Bernhardt2014LearningAC, title={Learning about Common and Private Values in Oligopoly}, author={Dan Bernhardt and B. Taub}, year={2014} }