Mixed Duopoly : Differential Game Approach

Material type: 文書・図像類

Author: Futagami, Koichiほか

Publisher: Graduate School of Economics and Osaka School of International Public Policy (OSIPP), Osaka University

Publication date: 2017-03

Material Format: Paper

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Note (General)：: Previous studies in differential games reveal that intertemporal strategic behaviors have an important role for various economic problems. However, mo...

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Paper

Material Type: 文書・図像類
Title: Mixed Duopoly : Differential Game Approach
Author/Editor: Futagami, Koichi
Matsumura, Toshihiro
Takao, Kizuku
Author Heading: Futagami, Koichi
https://nrid.nii.ac.jp/nrid/1000030199400
Matsumura, Toshihiro
https://nrid.nii.ac.jp/nrid/1000070263324
Takao, Kizuku
https://nrid.nii.ac.jp/nrid/1000010755680
Publication, Distribution, etc.: Graduate School of Economics and Osaka School of International Public Policy (OSIPP), Osaka University
Publication Date: 2017-03
Publication Date (W3CDTF): 2017-03
Periodical title: Discussion Papers In Economics And Business
No. or year of volume/issue: 17-03
Volume: 17-03
Pages: 1-53
Text Language Code: eng
Subject Heading: Mixed Duopoly
Open-loop Nash equilibrium
Markov Perfect Nash equilibrium
Target Audience: 一般
Note (General): Previous studies in differential games reveal that intertemporal strategic behaviors have an important role for various economic problems. However, most of their analyses are limited to cases where objective functions are identical among agents. In this paper, we characterize the open-loop Nash equilibrium and the Markov perfect Nash equilibrium of a mixed duopoly game where a fully or partially state-owned firm and a fully private firm compete in the quantities of homogeneous goods with sticky prices. We show that in the Markov perfect Nash equilibrium, an increase in the governments' share-holdings of the state-owned firm has a non-monotonic effect on the price, and in a wide range of parameter spaces, it increases the price. These results are derived from the interaction of an asymmetric structure of agents' objectives and inter-temporal strategic behaviors, which are in sharp contrast with those in the open-loop Nash equilibrium. We provide new implications for privatization policies in the presence of dynamic interactions, against the static analyses.
References (URI): http://www2.econ.osaka-u.ac.jp/library/global/dp/1703.pdf
URI
http://www2.econ.osaka-u.ac.jp/library/global/dp/1703.pdf
Data Provider (Database): 国立情報学研究所 : 学術機関リポジトリデータベース（IRDB）（機関リポジトリ）
https://irdb.nii.ac.jp
Original Data Provider (Database): 大阪大学 : 大阪大学学術情報庫　桜華