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Equilibrium and efficiency in the tug-of-war

Konrad, Kai A.; Kovenock, Dan - 2005

We characterize the unique Markov perfect equilibrium of a tug-of-war without exogenous noise, in which players have the opportunity to engage in a sequence of battles in an attempt to win the war. Each battle is an all-pay auction in which the player expending the greater resources wins. In...

Persistent link: https://www.econbiz.de/10010274454

Optimal tariffs on exhaustible resources: The case of a quantity setting cartel

Fujiwara, Kenji; Long, Ngo Van - 2012

We formulate a dynamic game model of trade in an exhaustible resource with a quantity-setting cartel. We compute the feedback Nash equilibrium and two Stackelberg equilibria under two different leadership scenarios: leadership by the strategic importing country, and leadership by the exporting...

Persistent link: https://www.econbiz.de/10010280841

A theory of dynamic tariff and quota retaliation

Keenan, Donald C.; Naqvi, Nadeem; Pech, Gerald - 2011

This paper characterizes, under the most general conditions to date, the steady-state equilibria of a symmetric, two-country trade model in which countries move in alternating-move, dynamic either tariffsetting or quota-setting games in Markov Perfect strategies, and compares the respective...

Persistent link: https://www.econbiz.de/10010286394

Experimental Investigation of a Cyclic Duopoly Game

Goerg, Sebastian J.; Selten, Reinhard - 2007

analysis of a cyclic duopoly game. The experiments reported concern this game. The game was played by eleven matching groups of …

Persistent link: https://www.econbiz.de/10010263190

Strategic advertisement with externalities: a new dynamic approach

Joosten, Reinoud - 2007

We model and analyze strategic interaction over time in a duopolis-tic market. Each period the firms independently and simultaneously choose whether to advertise or not. Advertising increases the own immediate sales, but may also cause an externality, e.g., increase or decrease the immediate...

Persistent link: https://www.econbiz.de/10010266695

Dynamic Price Competition with Price Adjustment Costs and Product Differentiation

Vernasca, Gianluigi - 2003

We study a discrete time dynamic game of price competition with spatially differentiated products and price adjustment costs. We characterise the Markov perfect and the open-loop equilibrium of our game. We find that in the steady state Markov perfect equilibrium, given the presence of...

Persistent link: https://www.econbiz.de/10011325148

Can price discrimination lead to product differentiation? A vertical differentiation model

Herweg, Fabian - 2007

In this paper, I compare two-part tariff competition to linear pricing in a vertically differentiated duopoly …

Persistent link: https://www.econbiz.de/10010263184

Competition and innovation in a technology setting software duopoly

Schröder, Philipp J. H.; Bitzer, Jürgen - 2003

market structure from monopoly to duopoly under the assumption that software producers compete in technology rather than …, i.e. innovation. It is found that: (i) moving from monopoly to duopoly does increase the technology level set by firms … in the software industry; (ii) a duopoly adjusts more readily to global technological progress than a monopolist …

Persistent link: https://www.econbiz.de/10010276552

Satisficing in sales competition: experimental evidence

Berninghaus, Siegfried; Güth, Werner; Levati, M. Vittoria - 2009

In a duopoly market, aspiration levels express how much sellers want to earn given their expectations about the other …

Persistent link: https://www.econbiz.de/10010294797

Export production, hedging exchange rate risk: the duopoly case

Broll, Udo; Wahl, Jack E.; Wessel, Christoph - 2008

This paper studies a Cournot duopoly in international trade so that the firms are exposed to exchange rate risk. A …

Persistent link: https://www.econbiz.de/10010300615