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Title: |
Durable Good Monopoly, Finite Durability and
'Trigger' Time-Consistent Equilibrium |
| Author: |
Kim, Jae-Cheol |
| Author
Affiliation: |
Korea Advanced
Institute of Science & Technology |
| Source: |
International Economic Journal, Summer 1992, v. 6, no. 2, pp. 69-77 |
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Publication Date: |
Summer 1992 |
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Abstract: |
This paper analyzes the problem of durable
good monopoly facing linear demand function when the good decays in a
one-hoss-shay fashion. It is shown that under certain conditions there
can exist a time-consistent equilibrium which resembles the trigger
strategy equilibrium in the repeated games. |
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