Identifying reaction functions in a differential oligopoly game with sticky prices

Lambertini, Luca ; Mantovani, Andrea (2004) Identifying reaction functions in a differential oligopoly game with sticky prices. p. 19. DOI 10.6092/unibo/amsacta/1581.

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Abstract

We investigate the issue of strategic substitutability/complementarity in a Cournot differential game with sticky prices. We show that first order conditions do not produce instantaneous best reply functions. However, we identify negatively sloped reaction functions in steady state, with the open-loop best reply being flatter than its closed-loop counterpart.

Abstract

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