A dynamic Cournot–Nash game: a representation of a finitely repeated feedback game |
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Authors: | Talat S Genc |
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Institution: | (1) Department of Economics, University of Guelph, Guelph, ON, Canada, N1G 2W1 |
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Abstract: | This paper studies market outcome equivalence of two dynamic production-capital investment games under uncertainty. One is
played under complete information, while the other, feedback (FB) game, is played under incomplete information about the opponents’
costs and market demand. The FB game structure may be observed in some newly initiated industries, in which a homogeneous
good is exchanged via an auction mechanism. In that case, the FB game setting may predict the complete information equilibrium
market outcomes.
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Keywords: | Production-investment dynamic game Complete/incomplete information Communication Demand uncertainty |
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