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  • asymmetric information  (1)
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    Electronic Resource
    Electronic Resource
    Asymmetry of information and contestability theory (1994)
    Springer
    Review of industrial organization 9 (1994), S. 99-107 
    Details
    ISSN: 1573-7160
    Keywords: Contestability ; asymmetric information ; disequilibrium
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract In this paper, contestability theory is examined under conditions of asymmetric information. Signals of economic profitability to potential entrants are the incumbent's list price and accounting rate of return. A disequilibrium analysis indicates that, while potential entry imposes a price discipline, incumbents can earn profits, although not indefinitely under stable conditions. Also, there may be wasteful entry even into industries where prices approximate the optimum.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01024222
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