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• W2188843721 abstract "Shubik (1959) initiates the literature on equilibrium point criteria in dynamic oligopoly models. Here, we investigate the existence and structure of equilibrium points when players are risk averse. We consider a sequential game in which each player maximizes the expected exponential utility of the present value of the time stream of rewards. Let be the player's reward in period , the single- > > period discount factor, and parameterize risk sensitivity. We assume that the player wishes to - ! maximize and give sufficient conditions for the existence of a Markov- IO / B:Ð NO -D t=1  > perfect equilibrium point. There are sets of sufficient conditions for a Markov-perfect equilibrium point to be myopic, namely a sequence of equilibrium points of static games. The myopia results are applied to a dynamic oligopoly model in which firms choose price and production quantities, encounter stochastic demand, and hold inventories." @default.
• W2188843721 created "2016-06-24" @default.
• W2188843721 creator A5044980796 @default.
• W2188843721 creator A5051537524 @default.
• W2188843721 date "2004-01-01" @default.
• W2188843721 modified "2023-09-26" @default.
• W2188843721 title "RISK-SENSITIVE MARKOV-PERFECT EQUILIBRIA" @default.
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• W2188843721 hasPublicationYear "2004" @default.
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