{"product_id":"the-effect-of-asymmetric-entry-penny-hill-press-inc-9781523326587","title":"The Effect of Asymmetric Entry Costs on Bertrand Competition","description":"By permitting firms to have different entry costs, I generalize two previously studied models of two-stage entry and pricing amongst Bertrand competitors. I find that the existing results depend critically on the symmetry assumption. For example, if firms' entry decisions are observed before price-setting occurs, then total welfare can increase following the introduction of a potential entrant, in contrast to the unambiguous welfare reduction found in the symmetric setting. If firms' entry decisions are unobserved before pricing-setting occurs, then the expected price typically decreases or remains unchanged following the introduction of a potential entrant, in contrast to the unambiguous price increase found in the symmetric setting. In both price-setting environments, competition increases following the introduction of potential entrants with sufficiently low entry costs, a finding that is obscured by focusing on the symmetric models.\u003cbr\u003e\u003cbr\u003e\u003cb\u003eAuthor:\u003c\/b\u003e Penny Hill Press Inc,Federal Trade Commission\u003cbr\u003e\u003cb\u003eISBN-10:\u003c\/b\u003e 1523326581\u003cbr\u003e\u003cb\u003eISBN-13:\u003c\/b\u003e 9781523326587\u003cbr\u003e\u003cb\u003ePublisher:\u003c\/b\u003e Createspace Independent Publishing Platform\u003cbr\u003e\u003cb\u003eLanguage:\u003c\/b\u003e English\u003cbr\u003e\u003cb\u003ePublished:\u003c\/b\u003e 01\/10\/2016\u003cbr\u003e\u003cb\u003ePages:\u003c\/b\u003e 26\u003cbr\u003e\u003cb\u003eFormat:\u003c\/b\u003e Paperback\u003cbr\u003e\u003cb\u003eWeight:\u003c\/b\u003e 0.19lbs\u003cbr\u003e\u003cb\u003eSize:\u003c\/b\u003e 11.02h x 8.50w x 0.05d","brand":"Penny Hill Press Inc","offers":[{"title":"Paperback","offer_id":48436825751807,"sku":"9781523326587","price":12.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0662\/2982\/9887\/files\/img_823e98d5-90a7-4b21-b1a5-b28780c8a0c8.jpg?v=1777158026","url":"https:\/\/www.whiterainbookhouse.com\/products\/the-effect-of-asymmetric-entry-penny-hill-press-inc-9781523326587","provider":"WR Book House","version":"1.0","type":"link"}