The Leitmann-Schmitendorf advertising game with n players and time discounting |
| |
Authors: | Davide Dragone Arsen Palestini |
| |
Institution: | Department of Economics, University of Bologna, Strada Maggiore 45, 40125 Bologna, Italy |
| |
Abstract: | The extension of the Leitmann-Schmitendorf advertising game to n players and positive time discounting is investigated. We show that the strong time consistency of the open-loop Nash equilibrium is preserved. As to optimal controls, while the boundary solution is unaffected by the number of firms as well as discounting, the inner solution depends on industry structure. The fully symmetric version of the game allows us to identify the parameter regions wherein both solutions are sustainable. |
| |
Keywords: | Differential games Advertising Open-loop control |
本文献已被 ScienceDirect 等数据库收录! |