Firms' Timing of Production with Heterogeneous Consumers
Firms' Timing of Production with Heterogeneous Consumers
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企业与异质消费者的生产时间安排
DOI：
10.1111/caje.12360
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发表时间：
2018
期刊：
影响因子：
--
通讯作者：
Cong Pan
中科院分区：
文献类型：
--
作者：
Murakami;D.;Yamagata;Y.;and Hirano;T.;Cong Pan
我重新审视了数量设定双寡头博弈中的内生时间。在基本模型中，我表明，鉴于消费者支付意愿（WTP）的强烈异质性和一个中等规模的低WTP消费者细分市场，连续移动的结果可以出现在均衡中，跟随者享有后动优势。由于消费者支付意愿的异质性，存在一种局部属性，即企业的攻击性行为可能导致竞争对手做出更积极的反应。因此，连续变动可以限制企业的总产量以避免价格崩溃，并导致企业的战略选择帕累托支配下的同时移动。进一步推广了我的研究结果，表明虽然企业在数量上竞争，但在需求函数的某些条件下，战略互补的特征可以出现。
I revisit endogenous timing in a quantity‐setting duopoly game. In the basic model, I show that given strong heterogeneity in consumers’ willingness to pay (WTP) and a moderately small consumer segment with lowWTP, sequential moving outcomes can appear in equilibrium with the follower enjoying second‐mover advantage. Owing to consumer heterogeneity inWTP, there is a local property that a firm's aggressive behaviour may lead to a competitor responding more aggressively. Hence, the sequential moves can restrict firms’ total outputs to avoid a price collapse, and result in firms’ strategic choices that Pareto dominate those under the simultaneous move. I further generalize my results and show that although firms compete in quantity, under some conditions of the demand function, features of strategic complements can appear.