An Oligopoly Model for Studying Equilibrum Strategy of Seasonal Goods Dynamic Pricing in Competitive Market with Demand Uncertainty, M.Sc. Thesis Sharif University of Technology ; Kianfar, Farhad (Supervisor)
Abstract
This paper studies sub game perfect Nash equilibrium of a price competition in an oligopoly market with perishable assets. Sellers each has one unit of a good that cannot be replenished, and they compete in setting prices to sell their good over a finite sales horizon. Buyers each demand one unit of the good in each period and the number of buyers coming to the market in each period is random. All sellers’ prices are accessible for buyers, and search is costless. Using stochastic dynamic programming methods, the best response of sellers can be obtained from a one-shot price competition game regarding remained periods and the current-time demand structure. Assuming a binary demand model, we...
Cataloging briefAn Oligopoly Model for Studying Equilibrum Strategy of Seasonal Goods Dynamic Pricing in Competitive Market with Demand Uncertainty, M.Sc. Thesis Sharif University of Technology ; Kianfar, Farhad (Supervisor)
Abstract
This paper studies sub game perfect Nash equilibrium of a price competition in an oligopoly market with perishable assets. Sellers each has one unit of a good that cannot be replenished, and they compete in setting prices to sell their good over a finite sales horizon. Buyers each demand one unit of the good in each period and the number of buyers coming to the market in each period is random. All sellers’ prices are accessible for buyers, and search is costless. Using stochastic dynamic programming methods, the best response of sellers can be obtained from a one-shot price competition game regarding remained periods and the current-time demand structure. Assuming a binary demand model, we...
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