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On computation of optimal strategies in oligopolistic markets respecting the cost of change

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    SYSNO ASEP0531319
    Document TypeJ - Journal Article
    R&D Document TypeJournal Article
    Subsidiary JČlánek ve WOS
    TitleOn computation of optimal strategies in oligopolistic markets respecting the cost of change
    Author(s) Outrata, Jiří (UTIA-B) RID
    Valdman, Jan (UTIA-B) RID
    Source TitleMathematical Methods of Operations Research - ISSN 1432-2994
    Roč. 92, č. 3 (2020), s. 489-509
    Number of pages21 s.
    Publication formPrint - P
    Languageeng - English
    CountryDE - Germany
    KeywordsGeneralized equation ; Equilibrium ; Cost of Change
    Subject RIVBA - General Mathematics
    OECD categoryPure mathematics
    R&D ProjectsGA17-08182S GA ČR - Czech Science Foundation (CSF)
    GA17-04301S GA ČR - Czech Science Foundation (CSF)
    Method of publishingOpen access
    Institutional supportUTIA-B - RVO:67985556
    UT WOS000551004500001
    EID SCOPUS85088297119
    DOI10.1007/s00186-020-00721-x
    AnnotationThe paper deals with a class of parameterized equilibrium problems, where the objectives of the players do possess nonsmooth terms. The respective Nash equilibria can be characterized via a parameter-dependent variational inequality of the second kind, whose Lipschitzian stability, under appropriate conditions, is established. This theory is then applied to evolution of an oligopolistic market in which the firms adapt their production strategies to changing input costs, while each change of the production is associated with some “costs of change”. We examine both the Cournot-Nash equilibria as well as the two-level case, when one firm decides to take over the role of the Leader (Stackelberg equilibrium). The impact of costs of change is illustrated by academic examples.
    WorkplaceInstitute of Information Theory and Automation
    ContactMarkéta Votavová, votavova@utia.cas.cz, Tel.: 266 052 201.
    Year of Publishing2021
    Electronic addresshttps://link.springer.com/article/10.1007/s00186-020-00721-x
Number of the records: 1