Détails de l'événement :
Konrad STAHL (University of Mannheim)
nous présentera son article :
A Dynamic Model of Predation
coécrit avec Patrick Rey et Yossi Spiegel
We study the feasibility and profitability of predation in a parsimonious infinite-horizon, complete information setting where an incumbent may face an entrant, in which case it needs to decide whether to accomodate or predate it. If the entrant exists, a new entrant is born with positive probability. We show that there always exists a Markov prefect equilibirum, which can be of three types: accomodation, predation with no future entry, and predation with hit-and-run entry. We use the model to study alternative antitrust policies, derive the best rules for these policies, and compare their welfare effects.