Roy, S.

quality price equilibrium period market fi rms seller model investment quality fi rm consumer buyer quality fi rms trade equilibria information proposition period t industry market power incentive condition probability increase number distribution product charge fi rm i state belief outcome profit fi nal interval quality firms price p trading function journal result output valuation surplus proof exchange power viaene / journal economic out-of-equilibrium beliefs equilibrium path quality firm janssen section lemma product quality problem entry example strategy investment decisions value production demand quantity period 1 criterion paper out-of-equilibrium measure type h firm i quality price decision industry equilibrium quality types competition sequence 1 re finement roy / games