A comment on: ''Revisiting dynamic duopoly with consumer switching costs'' (Q1877174)
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scientific article; zbMATH DE number 2091407
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| English | A comment on: ''Revisiting dynamic duopoly with consumer switching costs'' |
scientific article; zbMATH DE number 2091407 |
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A comment on: ''Revisiting dynamic duopoly with consumer switching costs'' (English)
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16 August 2004
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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.
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Dynamic duopoly
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consumer switching costs
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Markov perfect equilibrium
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