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Rani Spiegler, UCLondon Print
Tuesday, 30 April 2013, 14:00 - 15:15

Rani Spiegler, University College London

Competition Framing


Abstract: I present a simple framework for modeling two-firm market competition, where each firm chooses a market alternative as well as a costless "marketing message". Consumers follow a frame-dependent choice function, where the frame is a probabilistic function of the firms' marketing messages. This framework embeds several recent models in the literature on markets with boundedly rational consumers. I identify a property that consumer choice may satisfy, which extends the concept of Weighted Regularity due to Piccione and Spiegler (2012), and provide a characterization of Nash equilibria under this property. I use this result to analyze the equilibrium interplay between competition and framing in a large variety of models that fall into the framework.

Location: R42.2.113
Contact: Claude Adan, This e-mail address is being protected from spam bots, you need JavaScript enabled to view it