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A dynamic free-entry oligopoly with sluggish entry and exit adjustments |
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| Authors: | Yasuhito Tanaka |
| Abstract: | We study a dynamic free-entry oligopoly with sluggish entry and exit of firms under general demand and cost functions. We show that the number of firms in a steady-state open-loop solution for a dynamic free-entry oligopoly is smaller than that at static equilibrium and that the number of firms in a steady-state memoryless closed-loop solution is larger than that in an open-loop solution. |
| Keywords: | Correspondence to: Faculty of Economics, Doshisha University, Kamigyo-ku, Kyoto, 602-8580, Japan. Free-entry oligopoly Differential game Open-loop Memoryless closed-loop |
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