Fiche du document
- handle: 10670/1.2v5ygr
- hal: hal-03328387
- doi: 10.1016/j.ijindorg.2021.102791
- WOS: 000722322100001
Ce document est lié à :
info:eu-repo/semantics/altIdentifier/doi/10.1016/j.ijindorg.2021.102791
info:eu-repo/semantics/OpenAccess
Mots-clés
Foreclosure Excessive entry Exclusionary behavior Incomplete information D - Microeconomics/D.D8 - Information, Knowledge, and Uncertainty/D.D8.D82 - Asymmetric and Private Information • Mechanism Design L - Industrial Organization/L.L1 - Market Structure, Firm Strategy, and Market Performance/L.L1.L12 - Monopoly • Monopolization Strategies -fin]Sujets proches
Negotiations Bargaining Haggling Negotiating Higgling Dickering Statutory foreclosure Mechanics' lien foreclosure Strict foreclosure Mortgage foreclosure Foreclosure sales Foreclosure--Law and legislation Funds Funding Contract law Contracts--Law and legislation Contractual limitations Limitations, Contractual Agreements Bargaining Labor negotiations Information, Asymmetric Asymmetric information Asymmetry, Information Finance, commerce, confiscations, etcCiter ce document
David Martimort et al., « Contracts as a Barrier to Entry: Impact of Buyer's Asymmetric Information and Bargaining Power », HAL-SHS : économie et finance, ID : 10.1016/j.ijindorg.2021.102791
Métriques
Partage / Export
Résumé
An incumbent seller contracts with a buyer and faces the threat of entry. The contract stipulates a price and a penalty for breach if the buyer later switches to the entrant. Sellers are heterogenous in terms of the gross surplus they provide to the buyer. The buyer is privately informed on her valuation for the incumbent's service. Asymmetric information makes the incumbent favor entry as it helps screening buyers. When the entrant has some bargaining power vis-à-vis the buyer and keeps a share of the gains from entry, the incumbent instead wants to reduce entry. The compounding effect of these two forces may lead to either excessive entry or foreclosure, and possibly to a fixed rebate for exclusivity given to all buyers.