General analysis of dynamic oligopoly with sticky price

Masahiko Hattori () and Yasuhito Tanaka

Economics Bulletin, 2019, vol. 39, issue 4, 2990-2998

Abstract: We present a differential game analysis of an oligopoly with sticky price under general demand and cost functions. We show that the output of each firm at the steady state of the open-loop dynamic oligopoly is generally larger than the output of each firm at the equilibrium of the static oligopoly, and the output of each firm at the steady state of the memoryless closed-loop dynamic oligopoly is generally larger than that at the steady state of the open-loop dynamic oligopoly. We also present an analysis of the feedback dynamic oligopoly.

Keywords: dynamic oligopoly, general demand function, general cost function,; open-loop, closed-loop, feedback (search for similar items in EconPapers)
JEL-codes: C7 D4 (search for similar items in EconPapers)
Date: 2019-12-24
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Citations: View citations in EconPapers (1)

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