Show simple item record

dc.contributor.authorChenavaz, Régis
dc.contributor.authorParaschiv, Corina
dc.contributor.authorTurinici, Gabriel
dc.date.accessioned2018-03-19T12:53:49Z
dc.date.available2018-03-19T12:53:49Z
dc.date.issued2017
dc.identifier.urihttps://basepub.dauphine.fr/handle/123456789/17565
dc.language.isoenen
dc.subjectcompetitive marketsen
dc.subjectmean-field gamesen
dc.subjectDynamic pricingen
dc.subjectnew products diffusionen
dc.subject.ddc658en
dc.subject.classificationjelD.D4.D41en
dc.subject.classificationjelD.D2.D21en
dc.subject.classificationjelC.C7.C73en
dc.subject.classificationjelC.C6.C62en
dc.subject.classificationjelC.C6.C61en
dc.titleDynamic Pricing of New Products in Competitive Markets: A Mean-Field Game Approachen
dc.typeDocument de travail / Working paper
dc.description.abstractenDynamic pricing of new products has been extensively studied in monopolistic and oligopolistic markets. But, the optimal control and differential game tools used to investigate the pricing behavior on markets with a finite number of firms are not well-suited to model competitive markets with an infinity of firms. Using a mean-field games approach, this paper examines dynamic pricing policies in competitive markets, where no firm exerts market power. The theoretical setting is based on a diffusion modeì a la Bass. We prove both the existence and the uniqueness of a mean-field game equilibrium, and we investigate mean tendencies and firms dispersion in the market. Numerical simulations show that the competitive market splits into two separate groups of firms depending on their production experience. The two groups differ in price and profit. Thus, high prices and profits do not have to signal anticompetitive practices, stimulating the debate on market regulation.en
dc.identifier.citationpages30en
dc.relation.ispartofseriestitleCahier de recherche CEREMADE, Université Paris-Dauphineen
dc.identifier.urlsitehttps://hal.archives-ouvertes.fr/hal-01592958en
dc.subject.ddclabelGestion des entreprisesen
dc.description.ssrncandidatenonen
dc.description.halcandidatenonen
dc.description.readershiprechercheen
dc.description.audienceInternationalen
dc.date.updated2018-03-19T12:47:34Z
hal.person.labIds162010
hal.person.labIds1738$$$56663
hal.person.labIds60


Files in this item

FilesSizeFormatView

There are no files associated with this item.

This item appears in the following Collection(s)

Show simple item record