Dynamic competition with consumer inertia

DOI10.1016/J.JMATECO.2013.07.004MaRDI QIDQ392659zbMATHOpenAlexFDO

Authors Erik Pot, Dries Vermeulen, János Flesch, Ronald Peeters

Publication date 15 January 2014

Published in Journal of Mathematical Economics (Search for Journal in Brave)

Full work available at URL https://cris.maastrichtuniversity.nl/ws/files/1678326/guid-a9d466f7-a527-4799-8b8a-6b8a29ce6013-ASSET1.0.pdf

zbMATH Keywords

consumer inertiadynamic duopolistic competitionendogenous market sharesmonopolization

Mathematics Subject Classification ID

Noncooperative games (91A10) 2-person games (91A05) Microeconomic theory (price theory and economic markets) (91B24) Special types of economic markets (including Cournot, Bertrand) (91B54)

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Cites work

• scientific article; zbMATH DE number 3205836 (Why is no real title available?)
• scientific article; zbMATH DE number 3215739 (Why is no real title available?)
• A Non-cooperative Equilibrium for Supergames
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• Consumer inertia, firm growth and industry dynamics.
• Discrete Dynamic Programming
• Dynamic price competition with network effects
• Markov perfect equilibrium. I: Observable actions
• Multi-Period Competition with Switching Costs
• Noncooperative Stochastic Games
• Price Wars Caused by Switching Costs
• Stationary equilibria in stochastic games: structure, selection, and computation
• Steady state price distributions in a noisy search equilibrium
• Viscous demand.

Cited in

(11)

• Market share dynamics in a duopoly model with word-of-mouth communication
• Sluggish consumers: An evolutionary solution to the Bertrand paradox.
• Competitive collection with convenience-perceived customers
• A note on inertia in market share
• Competition versus collusion: the impact of consumer inertia
• Durable products, time inconsistency, and lock-in
• Consumer inertia, firm growth and industry dynamics.
• Dynamic Duopoly with Incomplete Customer Loyalties
• Competitive search markets for durable goods
• Salience, competition, and decoy goods
• Price and warranty competition in a duopoly distribution channel: dynamic stability analysis for boundedly rational agents

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