PRICE VARIATION DUOPOLY WITH DIFFERENTIATED PRODUCTS AND RANDOM DEMAND,
Abstract
The paper shows that under the appropriate conditions the introduction of a random component to demand in a duopolistic (or more generally oligopolistic) market has the competitive effect of increasing stability in the sense that the market without a random component may have no noncooperative equilibrium point (in pure strategies) whereas the market with a random component has a noncooperative equilibrium point.
Document Details
- Document Type
- Technical Report
- Publication Date
- May 02, 1969
- Accession Number
- AD0688449
Entities
People
- Martin Shubik
- Richard Levitan
Organizations
- Yale University