ENTRY AND EXIT UNDER DEMAND UNCERTAINTY

Authors
VETTAS N
Citation
N. Vettas, ENTRY AND EXIT UNDER DEMAND UNCERTAINTY, Economics letters, 57(2), 1997, pp. 227-234
Citations number
7
Journal title
Economics letters → ACNP
ISSN journal
01651765
Volume
57
Issue
2
Year of publication
1997
Pages
227 - 234
Database
ISI
SICI code
0165-1765(1997)57:2<227:EAEUDU>2.0.ZU;2-U
Abstract
This paper presents a dynamic model of entry and exit in competitive m arkets with demand uncertainty and Bayesian learning. There is a uniqu e equilibrium path characterized by a pair of simple zero-expected pro fit equations. (C) 1997 Elsevier Science S.A.