On a class of state-redundant differential games

Luca Lambertini () and Arsen Palestini ()
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Luca Lambertini: University of Bologna
Arsen Palestini: Sapienza University of Rome

Central European Journal of Operations Research, 2025, vol. 33, issue 2, No 4, 375-389

Abstract: Abstract This paper identifies a class of state-redundant games whose open-loop solution is a degenerate feedback one. The structure of the game features an instantaneous payoff which is at least cubic, and state equations linear in states and controls. The model can be used to illustrate games in the field of industrial organization and management, involving advertising campaigns under product differentiation and either quantity or price competition.

Keywords: Open-loop equilibrium; Feedback equilibrium; Strong time consistency; Advertising; Goodwill (search for similar items in EconPapers)
JEL-codes: C61 C73 (search for similar items in EconPapers)
Date: 2025
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DOI: 10.1007/s10100-025-00965-0

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