Extremal equlibria of oligopolistic supergames (Q1082232): Difference between revisions
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Revision as of 02:08, 5 March 2024
scientific article
| Language | Label | Description | Also known as |
|---|---|---|---|
| English | Extremal equlibria of oligopolistic supergames |
scientific article |
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Extremal equlibria of oligopolistic supergames (English)
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1986
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General propositions established in the author's Ph. D. thesis [Princeton Univ. (October 1983)] are applied to the analysis of optimal punishments and constrained Pareto optimal paths of symmetric oligopolistic supergames. A remarkably simple 2-dimensional stick-and-carrot characterization of optimal symmetric punishments is obtained. An analogous result holds for the general case of asymmetric punishments, motivating the study of asymmetric Pareto optimal paths. The latter turn out to have a highly non-stationary dynamic structure which sometimes entails intertemporal reversals of relative payoffs between firms.
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optimal punishments
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constrained Pareto optimal paths
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symmetric oligopolistic supergames
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