A comment on: ''Revisiting dynamic duopoly with consumer switching costs'' (Q1877174)
From MaRDI portal
scientific article
Language | Label | Description | Also known as |
---|---|---|---|
English | A comment on: ''Revisiting dynamic duopoly with consumer switching costs'' |
scientific article |
Statements
A comment on: ''Revisiting dynamic duopoly with consumer switching costs'' (English)
0 references
16 August 2004
0 references
The authors consider the dynamic duopoly model proposed by \textit{A.J.~Padilla} [J. Econ. Theory, 67, 520--530 (1995; Zbl 0841.90137)] and the corresponding Markov perfect equilibrium concept. They show that the proposed strategies do not constitute an equilibrium and suggest an another symmetric equilibrium concept. They also note that both the concepts are not sufficient for a somewhat modified consumer model.
0 references
Dynamic duopoly
0 references
consumer switching costs
0 references
Markov perfect equilibrium
0 references