Markov Perfect Equilibrium Advertising Strategies of Lanchester Duopoly Model: A Technical Note

We propose a numerical approach to compute stationary Markov perfect Nash equilibrium advertising strategies of the Lanchester model. The algorithm can be implemented using a standard mathematical package, and, importantly, it does not require that the players discount their future earnings at a zero rate, an assumption that has been made in the literature.

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Year of publication:	2004
Authors:	Jarrar, Ramla ; Martín-Herrán, Guiomar ; Zaccour, Georges
Published in:	Management Science. - Institute for Operations Research and the Management Sciences - INFORMS, ISSN 0025-1909. - Vol. 50.2004, 7, p. 995-1000
Publisher:	Institute for Operations Research and the Management Sciences - INFORMS
Subject:	Lanchester model \| advertising strategies \| Markov perfect Nash equilibrium

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Extent:	application/pdf
Type of publication:	Article
Other identifiers:	10.1287/mnsc.1040.0249 [DOI]
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10009203677