Abstract
The model is one of a multistage price-setting duopoly with demand inertia. The notion “demand inertia” refers to a dynamic relationship between present sales and past sales. This relationship arises because sales depend both on current prices and past sales. Imagine customers tending to stay with the same seller but also tending to change from high price sellers to low price sellers. The situation is modelled as a non-cooperative game.
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© 1992 Springer-Verlag Berlin Heidelberg
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Keser, C. (1992). The Model. In: Experimental Duopoly Markets with Demand Inertia. Lecture Notes in Economics and Mathematical Systems, vol 391. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-48144-4_2
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DOI: https://doi.org/10.1007/978-3-642-48144-4_2
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-540-56090-6
Online ISBN: 978-3-642-48144-4
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