Standardization Across Markets And Entry
Standardization Across Markets And Entry
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II . EXAMPLES While the preceeding argument shows that (S, N) might be the unique perfect Nash equilibrium of the game, it does not establish that such an outcome would ever occur. That it does actually arise is shown in the following examples. Example 1: Homogenous Products The firms sell an homogenous product in each market that they share. The demand in each market is a continuous function given by 10 D(P), D' (P) P. „ lA iB where 11 (P) represents the profits of a monopolist charging a pri...ce equal to P. Both firms have constant marginal cost of production. If the firms compete in prices, the payoff structure is extremely simple since diversification or standardization by both firms yield zero profits. The equilibrium payoffs when the incumbent standardizes and the entrant operates in a single market are harder to characterize. First there does not exist a Nash equilibrium in pure strategies for this subgame .
What to read after Standardization Across Markets And Entry?
You can find similar books in the "Read Also" column, or choose other free books by Carmen Matutes to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
II . EXAMPLES While the preceeding argument shows that (S, N) might be the unique perfect Nash equilibrium of the game, it does not establish that such an outcome would ever occur. That it does actually arise is shown in the following examples. Example 1: Homogenous Products The firms sell an homogenous product in each market that they share. The demand in each market is a continuous function given by 10 D(P), D' (P) P. „ lA iB where 11 (P) represents the profits of a monopolist charging a pri...ce equal to P. Both firms have constant marginal cost of production. If the firms compete in prices, the payoff structure is extremely simple since diversification or standardization by both firms yield zero profits. The equilibrium payoffs when the incumbent standardizes and the entrant operates in a single market are harder to characterize. First there does not exist a Nash equilibrium in pure strategies for this subgame .
What to read after Standardization Across Markets And Entry?
You can find similar books in the "Read Also" column, or choose other free books by Carmen Matutes to read onlineMoreLess
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