标题：Endogenous timing in a mixed oligopoly under demand uncertainty
作者：Jianhu Zhang;Changying Li
作者机构：[Zhang, J] School of Economics, Shandong University, 27 Shanda South Road, Jinan, 250100 Shandong, China;[ Li, C] School of Economics, Shandong Univer 更多
通讯作者地址：[Li, CY]Shandong Univ, Sch Econ, 27 Shanda South Rd, Jinan 250100, Shandong, Peoples R China.
来源：Journal of Economics
关键词：Endogenous timing;Mixed oligopoly;Demand uncertainty;Horizontal differentiation
摘要：This paper analyzes a Hotelling-type game in a mixed oligopoly, where firms can either enter the market in period 1, facing demand uncertainty, or postpone their entry, in order to acquire complete information. It is shown that, for a high (low) levelof uncertainty, there is a pure (mixed)-strategy equilibrium. Moreover, the standard result in the literature—that uncertainty is a differentiation force, is only possible when the degree of uncertainty is small. An increase in the degree of uncertainty could force firms to delay their entry and lead to a socially optimal outcome.