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| Tekijä: | Monahan, G. Sobel, M. |
| Otsikko: | Risk-sensitive dynamic market share attraction games |
| Lehti: | Games and Economic Behavior
1997 : AUG, VOL. 20:2, p. 149-160 |
| Asiasana: | GAMES ECONOMIC BEHAVIOUR RISK |
| Kieli: | eng |
| Tiivistelmä: | The authors present partial results showing that risk- sensitive oligopolists would spend less on advertising than would their risk-neutral counterparts. The model is an infinite-horizon stochastic game in which each firm's "goodwill" is a random function of both its own and its competitors' current and past advertising expenditures. Single period firm profits have a market share attraction form. Each firm seeks to maximize its expected exponential utility of the sum of discounted profits. |
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