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31.01.2016
Here again it is worth considering the concave costs of quality separately from the convex case. With convex costs of quality, the first mover (whose quality is on the vertical axis) can choose A to be the equilibrium as the best response function of the opponent is flat if the first mover chooses A as depicted in Figure 7. Proposition 8 The firm which moves first will produce a higher quality and earn higher profits whether costs of quality are concave or convex. These are mirror images of one another, where one firm chooses Я and the other chooses )• In equilibrium, the high quality firm makes greater profits than the low quality one.


In the concave case the first mover has to essentially choose between the two equilibria A and В in Figure 5.
As profits are higher at A for the firm labelled H than at the points К and L (where profits are equal) they exceed profits along the downward sloping part of the opponents best response function.
A firm chooses a quality of Я if its opponent chooses a quality Я-i > Яь and chooses a quality of ян{яь) if Я-i fS Яь- The best responses look much like those in the case of concave costs.
The only difference is that in the concave cost case they could be downward sloping for low g choices by the opponent.


In equilibrium, one firm chooses Я and the other chooses ян{Я )• Note that once again the high quality firm must always make greater profits in equilibrium than the low quality one.




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