Game-theoretic models of competition between producers with random product yields under duopoly of differentiated goods. (English. Russian original) Zbl 1422.91406
Cybern. Syst. Anal. 51, No. 4, 609-618 (2015); translation from Kibern. Sist. Anal. 2015, No. 4, 127-136 (2015).
Summary: Models of quantitative competition under duopoly of differentiated goods are described in which the controlled variable (product yield) of a producer is considered to be a random quantity. The class of distributions of random product yields is singled out that guarantees the existence of solutions for noncooperative games. Formulas for finding a “corrected” Nash equilibrium are obtained in explicit form for a duopoly with a random controlled variable of one and both producers. A method for estimating the risk level for a producer is proposed.
MSC:
| 91B38 | Production theory, theory of the firm |
| 91B54 | Special types of economic markets (including Cournot, Bertrand) |
| 91A10 | Noncooperative games |
Keywords:
quantitative competition; duopoly; differentiated product; “corrected” Nash equilibrium; risk levelReferences:
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