Competition and efficiency in congested markets
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Author
Contributions
- Ozdaglar, Asuman E. - Contributor
- Massachusetts Institute of Technology. Dept. of Economics - Contributor
Publication
2005 - Massachusetts Institute of Technology, Dept. of Economics, Cambridge, Mass, Massachusetts
Language
English
Word Count
10,250 words, Guess
Page Count
41 pages
Identifiers
- Internet Archivecompetitioneffic00acem
- OCLC Control Number58725756
- Open LibraryOL24641978M
Description
We study the efficiency of oligopoly equilibria in congested markets. The motivating examples are the allocation of network flows in a communication network or of traffic in a transportation network. We show that increasing competition among oligopolists can reduce efficiency, measured as the difference between users' willingness to pay and delay costs. We characterize a tight bound of 5/6 on efficiency in pure strategy equilibria. This bound is tight even when the number of routes and oligopolists is arbitrarily large. We also study the efficiency properties of mixed strategy equilibria. Keywords: communication networks, congestion, efficiency, oligopoly. JEL Classifications: D43, C62.
Subjects
Series Statement
- Working paper series / Massachusetts Institute of Technology, Dept. of Economics -- working paper 05-06
- Working paper (Massachusetts Institute of Technology. Dept. of Economics) -- no. 05-06.
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