A Model of Endogenous Payoff Motives and Endogenous Timing in a Mixed Duopoly
Download or Read eBook A Model of Endogenous Payoff Motives and Endogenous Timing in a Mixed Duopoly PDF written by Kangsik Choi and published by . This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle.
Author | : Kangsik Choi |
Publisher | : |
Total Pages | : 0 |
Release | : 2009 |
ISBN-10 | : OCLC:1376447927 |
ISBN-13 | : |
Rating | : 4/5 (27 Downloads) |
Book Synopsis A Model of Endogenous Payoff Motives and Endogenous Timing in a Mixed Duopoly by : Kangsik Choi
Book excerpt: A model of endogenous payoff motives and endogenous order of moves is analysed in a mixed duopoly. We find that, when a non-negative price constraint is imposed on public and private firms' quantity choice, both firms always choose to be relative-payoff-maximisers, and both simultaneous move and sequential move can be sustained in equilibrium. In contrast, when non-negative absolute profit constraint is imposed, public and private firms always choose to be absolute-payoff-maximisers, and only sequential move can be sustained in equilibrium.