Cooperative and Non-Cooperative Differential Game Solutions to an Investment and Pricing Problem
作者:
DocknerEngelbert,
JørgensenSteffen,
期刊:
Journal of the Operational Research Society
(Taylor Available online 1984)
卷期:
Volume 35,
issue 8
页码: 731-739
ISSN:0160-5682
年代: 1984
DOI:10.1057/jors.1984.149
出版商: Taylor&Francis
关键词: differential games;cooperative and non-cooperative solutions;exhaustible resources;investment and pricing
数据来源: Taylor
摘要:
AbstractA monopoly possesses a finite stock of a resource and wishes to determine an optimal pricing policy. The competitive fringe invests in production capacity and wishes to select an optimal investment rate. Demand towards the monopoly depends on price as well as on the sales rate of the competition. Modelling the situation as a differential game, non-cooperative (Nash and Stackelberg) and cooperative (Pareto) equilibria are determined. Owing to the special structure of the game, these solutions can be found in closed form.
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