Differential Oligopoly Games where the Closed-Loop Memoryless and Open-Loop Equilibria Coincide

Cellini, Roberto ; Lambertini, Luca (2001) Differential Oligopoly Games where the Closed-Loop Memoryless and Open-Loop Equilibria Coincide. DOI 10.6092/unibo/amsacta/674.
Full text available as:
[img]
Preview
PDF
Download (135kB) | Preview

Abstract

We illustrate two differential oligopoly games using, respectively, the capital accumulation dynamics à la Nerlove-Arrow, and the capital accumulation dynamics à la Ramsey. We prove that these games benefit from the property that closed-loop memoryless solutions degenerate into open-loop solutions, since the best reply of a generic firm is independent of the rivals’ state variables, which entails that the cross effect from rivals’ states to own controls disappears.

Abstract
Document type
Monograph (Working Paper)
Creators
CreatorsAffiliationORCID
Cellini, Roberto
Lambertini, Luca
Keywords
differential games capital accumulation open-loop equilibria closed-loop equilibria
Subjects
DOI
Deposit date
17 Jun 2004
Last modified
17 Feb 2016 14:00
URI

Other metadata

Downloads

Downloads

Staff only: View the document

^