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• W2051209327 abstract "We consider a simple model of incomplete information in location theory. Two firms compete in a two stage framework: a sequential location stage and a price competition stage. Firm 1 knows both its own constant marginal cost technology and that of Firm 2, whereas the latter has incomplete information about firm 1's technology. The location stage turns out to be a monotonic signalling game and the unique D1 equilibrium is a pure strategy separating equilibrium if Firm 1's cost advantage is below some bound, and otherwise a pooling equilibrium if the prior probability that Firm 1 is of the low cost type is high, or a semi-pooling equilibrium if it is low. This surprising result is due to the fact that the location gap between the two types of Firm 1 is bounded because of natural economic reasons, which may prevent the separation of the two types. Hence, incomplete information matters: the equilibrium locations differ quite significantly from the full information equilibrium locations. Nous proposons ici un modele simple d'information incomplete en theorie de la localisation. Deux entreprises s'affrontent dans un contexte a deux etapes : une etape de localisation sequentielle et un etape de concurrence en prix. La firme 1 connait sa technologie a cout marginal constant et celle de la firme 20501s cette derniere n'a qu'une information imparfaite de la technologie de sa concurrente. La concurrence de premiere etape s'avere etre un jeu de signal monotone et l'equilibre D1 unique est un equilibre separateur en strategies pures si l'avantage de cout de la firme 1 est relativement faible et sinon, un equilibre melangeant, si la probabilite a priori que la firme 1 soit de type cout faible est elevee, ou un equilibre semi-melangeant, si cette probabilite est faible. Ce resultat surprenant est du au fait que l'ecart de localisation entre les firmes est naturellement borne, ce qui peut empecher la separation des types. Ainsi, les localisations d'equilibre d'information incomplete different significativement des localisations d'equilibre d'information complete." @default.
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• W2051209327 date "1994-11-01" @default.
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• W2051209327 title "Sequential Location Equilibria Under Incomplete Information" @default.
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