Stability, Global Dynamics, and Social Welfare of a Two-Stage Game under R&D Spillovers
In this paper, a repeated two-stage oligopoly game where two boundedly rational firms produce homogeneous product and apply gradient adjustment mechanism to decide their individual R&D investment is considered. Results concerning the equilibrium in the built model and the stability are discussed...
| Main Authors: | , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Hindawi Limited
2021-01-01
|
| Series: | Mathematical Problems in Engineering |
| Online Access: | http://dx.doi.org/10.1155/2021/2096868 |