The mixed strategy equilibrium of the three-firm location game with discrete location choices

Zhiyong Huang ()
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Zhiyong Huang: Department of Statistics, Hanken School of Economics

Economics Bulletin, 2011, vol. 31, issue 3, 2109-2116

Abstract: In the paper, we derive a symmetric MSE for the three-firm location game on the discrete strategy space. Rather than being uniformly distributed, the MSE for the game has a multimodal distribution. Our theory is more convincing to predict equilibria of three-firm location games in the real world or controlled experiments, where players face finitely many choices.

Keywords: mixed strategy equilibrium; multimodal distribution; discrete strategy space (search for similar items in EconPapers)
JEL-codes: C7 D7 (search for similar items in EconPapers)
Date: 2011-07-18
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