A Model of the Evolution of Duopoly: Does the Asymmetry between Firms Tend to Increase or Decrease?
The stochastic evolution of competition depends on the respective effort rates of the firms. We show that several effects are at work. The state tends to evolve in the direction where joint payoffs are greater. Since joint payoffs are related to joint product-market profits less joint effort costs,...
| Main Authors: | , , |
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| Formato: | Journal article |
| Idioma: | English |
| Publicado: |
1993
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