Can Producers’ Price War End Up in an Optimal Allocation?
Keyword(s):
The paper presents a theoretical framework for the phenomenon of the price war in the context of general equilibrium, with special attention to the production system. The natural question that arises is whether Nash-optimal production plans being the reactions to the changing prices can finally approximate a Nash-optimal production plan at the end of this war. To provide an answer, the production system is described as a parametric-multicriteria game. Referring to some results on the lower semicontinuty of the parametric weak-multicriteria Nash equilibria, we provide a positive answer for the stated problem.
2008 ◽
Vol 51
(1)
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pp. 81-94
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Keyword(s):
2015 ◽
Vol 6
(4)
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pp. 19-37
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2017 ◽
Vol 185
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pp. 100-112
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