Econometrica: Nov 1971, Volume 39, Issue 6

A Differential Game Model of Duopoly

https://doi.org/0012-9682(197111)39:6<911:ADGMOD>2.0.CO;2-N
p. 911-938

G. Leitmann, H. Y. Wan, Jr., S. Clemhout

The present study considers two duopolists each trying to outsell the other, under a non-negative profit constraint. Both advertisement and the customer-held stocks are brought into play. The optimal behavior for the duopolists is deduced from a mathematical model of differential games.

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