Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/159234
Authors: 
Cellini, Roberto
Lambertini, Luca
Year of Publication: 
2000
Series/Report no.: 
Quaderni - Working Paper DSE 393
Abstract: 
We investigate a dynamic oligopoly game with price adjustments. We show that the subgame perfect equilibria are characterised by larger output and lower price levels then the open-loop solution. The individual (and industry) output at the closed-loop equilibrium is larger than its counterpart at the feedback equilibrium. Therefore, firms prefer the open-loop equilibrium to the feedback equilibrium, and the latter to the closed-loop equilibrium. The opposite applies to consumers.
Persistent Identifier of the first edition: 
Creative Commons License: 
https://creativecommons.org/licenses/by-nc/3.0/
Document Type: 
Working Paper

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