We show in a differential game of a differentiated product doupoly model of price competition with costly production adjustment that when firms are symmetric the leadership attempt by each firm turns into Stackelberg price warfare yielding a (MArkov perfect) steady state outcome more competitive...

We prove the existence of stationary equilibrium in the primary and secondhand markets for an indivisible consumer durable in a general model with stochastic degradation and endogenous scrappage decisions.

Данная статья дает определение прибыли как экономической категории. Рассмотрены теории прибыли в ракурсе взглядов различных экономистов и экономических школ....

A two-stage game is used in this paper to model a long-run market with spatially separated producers and with multi-period demands: first, firmas simultaneously and independently invest their capacities; second, after capacities are set up in the first stage and made public, firms engage in a...

Using disaggregated data for Dutch manufacturing industries over the period 1975-1986 we find considerable evidence that the price-cost margins of small firms do not tend to follow those of large firms. These findings support the theory that small firms pursue a strategy of producing in distinct...