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
2006 - Massachusetts Institute of Technology, Dept. of Economics, Cambridge, MA, Massachusetts
Language
English
Word Count
12,000 words, Guess
Page Count
48 pages
Identifiers
- Internet Archivecompetitioneffic00acem3
- OCLC Control Number169946562
- Open LibraryOL24642469M
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 when there is zero latency at zero flow and a tight bound of 2 root2-2 with positive latency at zero flow. These bounds are tight even when the numbers of routes and oligopolists are arbitrarily large. Keywords: competition, congestion, externalities, networks, oligopoly. JEL Classifications: D43, D45, D62.
Subjects
Series Statement
- Working paper series / Massachusetts Institute of Technology, Dept. of Economics -- working paper 06-11
- Working paper (Massachusetts Institute of Technology. Dept. of Economics) -- no. 06-11.
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