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Flexibility in a Stackelberg leadership with differentiated goods
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Orientador(es)
Resumo(s)
We study the effects of product differentiation in a Stackelberg model with demand uncertainty for the first mover. We do an ex-ante and ex-post analysis of the profits
of the leader and of the follower firms in terms of product differentiation and of the
demand uncertainty. We show that even with small uncertainty about the demand,
the follower firm can achieve greater profits than the leader, if their products are
sufficiently differentiated. We also compute the probability of the second firm
having higher profit than the leading firm, subsequently showing the advantages
and disadvantages of being either the leader or the follower firm.
Descrição
Palavras-chave
Game theory Stackelberg model Demand uncertainty Differentiation Perfect Bayesian equilibrium
Contexto Educativo
Citação
Fernanda A. Ferreira, Flávio Ferreira, Miguel Ferreira & Alberto A. Pinto
(2015) Flexibility in a Stackelberg leadership with differentiated goods, Optimization, 64:4,
877-893, DOI: 10.1080/02331934.2013.836649
Editora
Taylor & Francis