The Fictitious Payoff Function: Two Applications to Dynamic Games
The notion of a fictitious-payoff function is developed in the context of a dynamic model of oligopoly. It is shown that in a certain class of games, the oligopolistic market acts as if it were maximizing a single objective function--the fictitious-payoff function. The more complex problem of calculating multiplayer subgame-perfect equilibria is thus reduced to an ordinary optimization problem.
Year of publication: |
1989
|
---|---|
Authors: | SLADE, Margaret E. |
Published in: |
Annales d'Economie et de Statistique. - École Nationale de la Statistique et de l'Admnistration Économique (ENSAE). - 1989, 15-16, p. 193-216
|
Publisher: |
École Nationale de la Statistique et de l'Admnistration Économique (ENSAE) |
Saved in:
Online Resource
Saved in favorites
Similar items by person
-
Many losers and a few winners : The impact of COVID‐19 on Canadian industries and regions
Slade, Margaret E., (2021)
-
Slade, Margaret Emily, (1994)
-
Hotelling confronts CAPM : a test of the theory of exhaustible resources
Slade, Margaret Emily, (1994)
- More ...