Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/159376 
Year of Publication: 
2005
Series/Report no.: 
Quaderni - Working Paper DSE No. 535
Publisher: 
Alma Mater Studiorum - Università di Bologna, Dipartimento di Scienze Economiche (DSE), Bologna
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: 
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Document Type: 
Working Paper

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