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results are that both strict Nash equilibria of the coordination game correspond to stationary distributions of the process …
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In this paper, we study a two-stage location-then-price game where consumers are distributed piecewise uniformly, each piece being referred to as an interval.Although the firms face a coordination problem, it is obvious that, for any given locations and prices, there is a unique indifferent...
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lower, there is a continuum of subgame perfect Nash equilibria due to the fact that firms may act as local monopolists and … the other firm's location choice becomes of less importance.All equilibria yield the same profit, however. …
Persistent link: https://www.econbiz.de/10011086967
We focus on axiomatizations of the Pareto equilibrium concept in multicriteria games based on consistency.Axiomatizations of the Nash equilibrium concept by Peleg and Tijs (1996) and Peleg, Potters, and Tijs (1996) have immediate generalizations.The axiomatization of Norde et al.(1996) cannot be...
Persistent link: https://www.econbiz.de/10011086994
This paper introduces a new perspective on the deregulation of shopping hours based on ideas from evolutionary game theory. We study a retail economy where shopping hours have been deregulated recently. It is argued that first, the deregulation leads to a coordination problem between store...
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