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Firms' quality commitment can efficiently improve the demand. This paper addresses the quality commitment under the duopoly. By establishing a Cournot model, the effects of quality commitment are discussed. Firstly, under one-sided quality commitment, the higher efficiency firm committing in...
Persistent link: https://www.econbiz.de/10010738032
We present a sufficient condition for a feedback Stackelberg equilibrium of a stochastic differential game on an infinite horizon. This condition gives rise to a system of elliptic partial differential equations involving a static Stackelberg game at the level of Lagrangian. As an example, we...
Persistent link: https://www.econbiz.de/10014040108
This paper introduces the notion of mixed leadership in non-zero-sum differential games, where there is no fixed hierarchy in decision making with respect to the players. Whether a particular player is leader or follower depends on the instrument variable s/he is controlling, and it is possible...
Persistent link: https://www.econbiz.de/10014046271
The open source paradigm is often defined as a collaborative effort, implying that firms and consumers come together in a non-competitive climate. We show here that open source development can arise from a competitive climate. Under competition, we find that open source is the surplus maximizing...
Persistent link: https://www.econbiz.de/10014047852
In this paper we consider the linear quadratic differential game for descriptor systems that have index one. We derive both necessary and sufficient conditions for existence of an open-loop Nash equilibrium
Persistent link: https://www.econbiz.de/10014219139
We analyze optimal advertising spending in a duopolistic market where each firm's market share depends on its own and its competitor''s advertising decisions, and is also subject to stochastic disturbances. We develop a differential game model of advertising in which the dynamic behavior is...
Persistent link: https://www.econbiz.de/10014075608
This paper proposes a Network Game model where one agent controls multiple nodes, and studies how equilibrium changes when a game is transformed from a one-agent-controls-one-node setting to a one-agent-controls-multiple-nodes setting. The model discusses how equilibrium might continue to exist...
Persistent link: https://www.econbiz.de/10014084314
This paper considers the non-zero-sum stochastic differential game problem between two ambiguity-averse insurers (AAIs) who encounter model uncertainty and seek the optimal investment and reinsurance decision under relative performance concerns. Each AAI invests in a risky asset and a risk-free...
Persistent link: https://www.econbiz.de/10012969836