DUOPOLY WITH PRICE AND QUANTITY AS STRATEGIC VARIABLES,
Abstract
The paper provides an explicit mixed strategy equilibrium solution for an oligopoly game. In the specification of the model, it is assumed that each firm has to make a decision on the production level while it names its prices, and a fixed unit cost for unsold inventory is introduced. Hence, both price and quantity appear as strategic variables. (Author)
Document Details
- Document Type
- Technical Report
- Publication Date
- Jul 17, 1970
- Accession Number
- AD0710750
Entities
People
- Martin Shubik
- Richard Levitan
Organizations
- Yale University