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- W2322236098 abstract "In this paper, we present a dynamic pricing model for two firms selling products displaying network effects for which consumers are with bounded rationality. We formulate this model in the form of differential games and derive the open-loop equilibrium prices for the firms. Then, we show the existence and uniqueness of such open-loop equilibrium prices. The model is further extended to the case with heterogeneous network effects. Their steady-state prices obtained are compared. A numerical example is solved and the results obtained are used to analyze how the steady-state prices and market shares of both firms are influenced by the cost, price sensitivity and the network effects of the products." @default.
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- W2322236098 date "2017-01-01" @default.
- W2322236098 modified "2023-10-18" @default.
- W2322236098 title "Dynamic pricing of network goods in duopoly markets with boundedly rational consumers" @default.
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- W2322236098 doi "https://doi.org/10.3934/jimo.2016025" @default.
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