haku: @author Rao, V. / yhteensä: 4
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| Tekijä: | Chintagunta, P. Rao, V. |
| Otsikko: | Pricing strategies in a dynamic duopoly: a differential game model |
| Lehti: | Management Science
1996 : NOV, VOL. 42:11, p. 1501-1514 |
| Asiasana: | MANAGEMENT SCIENCE PRICING STRATEGY |
| Kieli: | eng |
| Tiivistelmä: | The authors formulate a differential game model for dynamic pricing in a duopolistic market. Firms' demand functions are derived from utility maximizing behavior of consumers with the demand for a brand given by the logit model. Preferences for brands are assumed to evolve over time in the market in a manner akin to learning models postulated in the marketing literature. They derive the differential equations governing the equilibrium open-loop price paths over time and show that in steady state, the brand with the higher preference level charges the higher price. |
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