Utilize este identificador para referenciar este registo:
https://hdl.handle.net/1822/65673
Título: | A dynamic model of quality competition with endogenous prices |
Autor(es): | Cellini, Roberto Siciliani, Luigi Straume, Odd Rune |
Palavras-chave: | Differential-games Competition Quality |
Data: | Set-2018 |
Editora: | Elsevier Science BV |
Revista: | Journal of Economic Dynamics and Control |
Citação: | Cellini, R., Siciliani, L., & Straume, O. R. (2018). A dynamic model of quality competition with endogenous prices. Journal of Economic Dynamics and Control, 94, 190-206. |
Resumo(s): | We develop a dynamic model of price and quality competition in order to analyze the effects of competition on quality provision and to which extent an unregulated market is able to provide a socially optimal quality level. Our model combines a differential-game approach with a Hotelling spatial competition framework, and our analysis applies in particular to industries such as long-term care, health care, child care and education. If providers (nursing homes, hospitals, schools, nurseries) use closed-loop decision rules, which imply strategic interaction over time, we show that, although increased competition leads to higher quality in the steady state, quality provision is nevertheless lower than under open-loop rules, and also suboptimally low from a welfare perspective. Thus, our analysis identifies dynamic strategic interaction between competing providers as a potential source of inefficiency in quality provision. (C) 2018 Elsevier B.V. All rights reserved. |
Tipo: | Artigo |
URI: | https://hdl.handle.net/1822/65673 |
DOI: | 10.1016/j.jedc.2018.06.004 |
ISSN: | 0165-1889 |
e-ISSN: | 1879-1743 |
Versão da editora: | https://www.sciencedirect.com/science/article/pii/S0165188918301672 |
Arbitragem científica: | yes |
Acesso: | Acesso aberto |
Aparece nas coleções: | NIPE - Artigos em Revistas de Circulação Internacional com Arbitragem Científica |
Ficheiros deste registo:
Ficheiro | Descrição | Tamanho | Formato | |
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C-S-S-JEDC2018-2Revised_05-03-2018.pdf | 306,86 kB | Adobe PDF | Ver/Abrir |