Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/159376
Authors: 
Cellini, Roberto
Lambertini, Luca
Leitmann, George
Year of Publication: 
2005
Series/Report no.: 
Quaderni - Working Paper DSE 535
Abstract: 
This paper analyses the time consistency of open-loop equilibria, in the cases of Nash and Stackelberg behaviour. We define a class of games where the strong time-consistency of the open-loop Nash equilibrium associates with the time consistency of the open-loop Stackelberg equilibrium. We label these games as `perfect uncontrollable' and provide two examples based on (i) a model where firms invest so as to increase consumers' reservation prices, based upon Cellini and Lambertini (CEJOR, 2003); and (ii) a model where firms compete to increase their respective market shares, based upon Leit- mann and Schmitendorf (IEEE Transactions on Automatic Control, 1978).
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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