José‐Antonio Espín‐Sánchez, Álvaro Parra, Yuzhou Wang
{"title":"具有私有信息的入口博弈的均衡唯一性","authors":"José‐Antonio Espín‐Sánchez, Álvaro Parra, Yuzhou Wang","doi":"10.1111/1756-2171.12449","DOIUrl":null,"url":null,"abstract":"We study equilibria in static entry games with single‐dimensional private information. Our framework embeds many models commonly used in applied work, allowing for firm heterogeneity and selective entry. We introduce the notion of strength, which summarizes a firm's ability to endure competition. In environments of applied interest, an equilibrium in which entry strategies are ordered according to the firms' strengths always exists. We call this equilibrium herculean. We derive simple and testable sufficient conditions guaranteeing equilibrium uniqueness and, consequently, a unique counterfactual prediction.","PeriodicalId":51342,"journal":{"name":"Rand Journal of Economics","volume":"1 1","pages":""},"PeriodicalIF":2.8000,"publicationDate":"2023-08-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"3","resultStr":"{\"title\":\"Equilibrium uniqueness in entry games with private information\",\"authors\":\"José‐Antonio Espín‐Sánchez, Álvaro Parra, Yuzhou Wang\",\"doi\":\"10.1111/1756-2171.12449\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"We study equilibria in static entry games with single‐dimensional private information. Our framework embeds many models commonly used in applied work, allowing for firm heterogeneity and selective entry. We introduce the notion of strength, which summarizes a firm's ability to endure competition. In environments of applied interest, an equilibrium in which entry strategies are ordered according to the firms' strengths always exists. We call this equilibrium herculean. We derive simple and testable sufficient conditions guaranteeing equilibrium uniqueness and, consequently, a unique counterfactual prediction.\",\"PeriodicalId\":51342,\"journal\":{\"name\":\"Rand Journal of Economics\",\"volume\":\"1 1\",\"pages\":\"\"},\"PeriodicalIF\":2.8000,\"publicationDate\":\"2023-08-11\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"3\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Rand Journal of Economics\",\"FirstCategoryId\":\"96\",\"ListUrlMain\":\"https://doi.org/10.1111/1756-2171.12449\",\"RegionNum\":3,\"RegionCategory\":\"经济学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q1\",\"JCRName\":\"ECONOMICS\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Rand Journal of Economics","FirstCategoryId":"96","ListUrlMain":"https://doi.org/10.1111/1756-2171.12449","RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"ECONOMICS","Score":null,"Total":0}
Equilibrium uniqueness in entry games with private information
We study equilibria in static entry games with single‐dimensional private information. Our framework embeds many models commonly used in applied work, allowing for firm heterogeneity and selective entry. We introduce the notion of strength, which summarizes a firm's ability to endure competition. In environments of applied interest, an equilibrium in which entry strategies are ordered according to the firms' strengths always exists. We call this equilibrium herculean. We derive simple and testable sufficient conditions guaranteeing equilibrium uniqueness and, consequently, a unique counterfactual prediction.
期刊介绍:
The RAND Journal of Economics publishes theoretical and empirical research on industrial organization and closely related topics, including contracts, organizations, law and economics, and regulation. The RAND Journal of Economics, formerly the Bell Journal of Economics, is published quarterly by The RAND Corporation, in conjunction with Blackwell Publishing.