NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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How Efficient is Dynamic Competition? The Case of Price as Investment

David Besanko, Ulrich Doraszelski, Yaroslav Kryukov

NBER Working Paper No. 23829
Issued in September 2017

---- Acknowledgments ----

We thank Guy Arie, Joe Harrington, Bruno Jullien, Ariel Pakes, Robert Porter, Michael Raith, Mike Riordan, Juuso Valimaki, and Mike Whinston for helpful discussions and suggestions. We also thank participants at seminars at Carnegie Mellon University, DG Comp at the European Commission, Helsinki Center for Economic Research, Johns Hopkins University, Toulouse School of Economics, Tulane University, and University of Rochester for their useful questions and comments. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

---- Disclosure of Financial Relationships for Yaroslav Kryukov ----

Yaroslav Kryukov has conducted most of the research as faculty member of Carnegie Mellon University. After leaving CMU, limited follow-up work was conducted using solely his own time and resources.

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