:  Mikhail Iskakov, Alexey Iskakov And Claude dAspremont
:  Games for Cautious Players: The Equilibrium in Secure Strategies
:  
:  2016
:   ..
:  Games and Economic Behavior
() :  110
:  Iskakov M., Iskakov A., dAspremont C. Games for Cautious Players: The Equilibrium in Secure Strategies // Games and Economic Behavior, Vol. 110. 2018. P. 58-70
:  
:  We analyze the BertrandEdgeworth duopoly model using a solution concept of Equilibrium in Secure Strategies (EinSS), which provides a model of cautious behavior in non-cooperative games. It is suitable for studying games, in which threats of other players are an important factor in the decision-making. We show that in some cases when NashCournot equilibrium does not exist in the price duopoly of BertrandEdgeworth there is a unique EinSS, in which both players choose the same equilibrium price lower than the monopoly price. The difference between these prices can be interpreted as an additional reduction in price, which allows players to secure themselves against mutual threats of undercutting. We formulate and prove a criterion for the EinSS existence.
:  



: 1607, : 0, : 0.


© 2007.