Please use this identifier to cite or link to this item:
http://hdl.handle.net/20.500.11861/6509
Title: | A differential game model of a market of substitutable products |
Authors: | Prof. YEUNG Wing Kay, David |
Issue Date: | 1996 |
Source: | European Journal of Operational Research, May 1996, vol. 90(3), pp. 599-608. |
Journal: | European Journal of Operational Research |
Abstract: | Modern industrial organization often classifies groups of differentiated products that are fairly good substitutes to belong to the same market. This paper develops a differential game model of a market of substitutable products. To avoid the problem of time-inconsistency, we solve a feedback Nash equilibrium solution for the game. A set of state-dependent equilibrium strategies is derived. Extensions of the model to a stochastic formulation and to an infinite time horizon specification are also provided. |
Type: | Peer Reviewed Journal Article |
URI: | http://hdl.handle.net/20.500.11861/6509 |
ISSN: | 0377-2217 |
DOI: | 10.1016/0377-2217(95)00083-6 |
Appears in Collections: | Economics and Finance - Publication |
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