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• W1784095422 abstract "This article explores the application of oblivious equilibrium (OE) to highly concentrated markets. We define a natural extended notion of OE, called partially oblivious equilibrium (POE), that allows for there to be a set of strategically important firms (the “dominant” firms), whose firm states are always monitored by every other firm in the market. We perform computational experiments that explore the characteristics of POE, OE, and Markov perfect equilibrium (MPE), and find that POE generally performs well in highly concentrated markets. We also derive error bounds for evaluating the performance of POE for cases where MPE cannot be computed." @default.
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• W1784095422 date "2015-10-01" @default.
• W1784095422 modified "2023-10-03" @default.
• W1784095422 title "Oblivious equilibrium for concentrated industries" @default.
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• W1784095422 doi "https://doi.org/10.1111/1756-2171.12102" @default.
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