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the corresponding Cournot equilibrium. From a methodological viewpoint we make extensive use of the basic results from the …
Persistent link: https://www.econbiz.de/10010343823
This article presents a new approach to analyze the equilibrium set of symmetric, differentiable games by separating multiple symmetric equilibria and asymmetric equilibria. This separation allows the investigation of, for example, how various parameter constellations affect the scope for...
Persistent link: https://www.econbiz.de/10011744039
Persistent link: https://www.econbiz.de/10014165863
equivalent to Cournot payoff maximization, provided that the market price function and the three players' cost functions are …
Persistent link: https://www.econbiz.de/10014636403
We show that Miller and Pazgal.s (2001) model of strategic delegation, in which managerial incentives are based upon relative performance, is affected by a non-existence problem which has impact on the price equilibrium. The undercutting incentives generating this result are indeed similar to...
Persistent link: https://www.econbiz.de/10011734216
the Cournot model) …
Persistent link: https://www.econbiz.de/10014184323
Cournot and Bertrand oligopoly equilibria are usually explained by strategic interactions, e.g., the best … least likely in Cournot oligopoly with homogeneous goods under simultaneous moves, it is still guaranteed under sequential … moves as assumed by Cournot originally. Hence, oligopoly equilibria can be better explained without strategic interaction …
Persistent link: https://www.econbiz.de/10014345458
In this paper we show that a homogeneous-product market with multiple Bertrand equilibria becomes a market with a single Bertrand equilibrium when we introduce a small degree of product differentiation. When differentiation tends to zero, that Bertrand equilibrium converges to the unique...
Persistent link: https://www.econbiz.de/10013158272
existence of equilibrium. We then apply the solution concept to a matching-based Cournot model in which the unit production cost …
Persistent link: https://www.econbiz.de/10010191642
It is a very well-known result that in terms of evolutionary stability the long-run outcome of a Cournot oligopoly …. Contrary to Tanaka (1999) we show that the evolutionarily stable price in an asymmetric Cournot oligopoly needs not equal the …Einem bekannten und überraschenden Result zufolge ist das langfristige evolutionäre Gleichgewicht in einem endlichen …
Persistent link: https://www.econbiz.de/10010399434