On Yano's Price Leadership Game

Makoto Yano and Takashi Komatsubara
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Takashi Komatsubara: Keio University

A chapter in International Trade and Economic Dynamics, 2009, pp 513-523 from Springer

Abstract: Yano (2001) has constructed a game of endogenous price leadership for a homogeneous product with two firms and different technologies and demonstrated that the state in which the technologically superior firm acts as a price leader is a Nash equilibrium (a superior leader equilibrium). This study extends the original framework of Yano (2001) and spells out technical details so as to fully characterize the Nash equilibria in that framework. We demonstrate the existence of a strong presumption in favor of the emergence of a superior leader equilibrium.

Keywords: Nash Equilibrium; Market Demand; Price Competition; Optimal Price; Monopoly Price (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-540-78676-4_33

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DOI: 10.1007/978-3-540-78676-4_33

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