Reciprocity, inequity aversion, and oligopolistic competition

This paper studies how reciprocity and inequity aversion influence the behavior of firms in imperfectly competitive markets. The paper shows that if reciprocal firms compete à la Cournot, then they are able to sustain “collusive” outcomes under a positive reciprocity equilibrium. By contrast, Stackelberg warfare outcomes may emerge under a negative reciprocity equilibrium. The results for inequity aversion are similar. Cournot competition between inequity averse firms can be harmful to consumers if it leads to equilibria where firms feel compassion toward each other. However, in equilibria where inequity averse firms are envious of each other consumers are better off than if firms were selfish. The paper also shows that only under very restrictive conditions does reciprocity or inequity aversion have an impact on Bertrand competition. Finally, the paper shows that non-selfish preferences have a greater impact on equilibrium outcomes in markets with a small number of firms.

Comments on ‘‘Modeling fractional stochastic systems as non-random fractional dynamics driven Brownian motions

Applied Mathematical Modelling, Vol.33

A coherent approach to non-integer order derivatives

Signal Processing, vol. 86, nº 10

Multi-bit sigma-delta modulators with enhanced dynamic-range using non-linear DAC for hearing aids

15th IEEE International Conference on Electronics, Circuits and Systems, Malta

Non-volatile analysis in fruits by laser resonant ionization spectrometry: application to resveratrol (3,5,4 -trihydroxystilbene) in grapes

Applied Physics B Lasers and Optics, vol.71

FROM NON-PLACE TO PLACE: A STUDY OF EUROPEAN PUBLIC SPACE AS A SPACE OF IDENTITY

Master Erasmus Mundus Crossways in European Humanities

Archaeological roman glasses: comparative characterisation by non-destructive analytical techniques

Dissertation presented in fulfilment of the requirements for the Master’s degree in Conservation and Restoration

Negative non-ground queries in well founded semantics

Dissertação apresentada na Faculdade de Ciências e Tecnologia da Universidade Nova de Lisboa para obtenção do grau de Mestre em Computational Logic

AVTEM NON SVNT RERVM NATVRA. Figurações heteromórficas em mosaicos hispano-romanos

Tese apresentada para cumprimento dos requisitos necessários à obtenção do grau de Doutor em História da Arte da Antiguidade

Non-linear time series models

The last three decades have seen quite dramatic changes the way we modeled time dependent data. Linear processes have been in the center stage in modeling time series. As far as the second order properties are concerned, the theory and the methodology are very adequate.However, there are more and more evidences that linear models are not sufficiently flexible and rich enough for modeling purposes and that failure to account for non-linearities can be very misleading and have undesired consequences.

A score test for non-nested hypotheses with applications to discrete data models

This paper suggests that a convenient score test against non-nested alternatives can be constructed from the linear combination of the likelihood functions of the competing models. It is shown that this procedure is essentially a test for the correct specification of the conditional distribution of the variable of interest.

Contribuição ao estudo da mistura néon-azoto a baixas temperaturas

Dissertação para obtenção do Grau de Mestre em Engenharia Física

Non-clinical isolates bring new findings on enterococcal virulence

Dissertation presented to obtain the PhD degree in Biology

How to sell successfully a perfume in the non-selective market?

A Work Project, presented as part of the requirements for the Award of a Masters Degree in Management from the NOVA – School of Business and Economics

Identity dynamics in non-profit organizations: Ideological and methodological identity orientations

A Work Project, presented as part of the requirements for the Award of a Masters Degree in Management from the NOVA – School of Business and Economics