scholarly journals Uncertainty and Risk-aversion in a Dynamic Oligopoly with Sticky Prices

2018 ◽  
Author(s):  
Edilio Valentini ◽  
Paolo Vitale
Keyword(s):  
Risk Aversion ◽  
Sticky Prices ◽  
Dynamic Oligopoly

scholarly journals A Dynamic Oligopoly with Price Stickiness and Risk-Averse Agents

2021 ◽  
Author(s):  
Edilio Valentini ◽  
Paolo Vitale
Keyword(s):  
Risk Aversion ◽  
Continuous Time ◽  
Infinite Horizon ◽  
Sticky Prices ◽  
Time Limit ◽  
Price Stickiness ◽  
Time Model ◽  
Classical Dynamic ◽  
Dynamic Oligopoly ◽  
The Impact

AbstractIn this paper we present a dynamic discrete-time model that allows to investigate the impact of risk-aversion in an oligopoly characterized by a homogeneous non-storable good, sticky prices and uncertainty. The continuous-time limit of our formulation nests the classical dynamic oligopoly model with sticky prices by Fershtman and Kamien (Econometrica 55:1151–1164, 1987) and extends it by accommodating uncertainty and risk-aversion. We show that in the continuous-time limit of our infinite horizon formulation the optimal production strategy and the consequent equilibrium price are, respectively, directly and inversely related to the degrees of uncertainty and risk-aversion. However, the effect of uncertainty and risk-aversion crucially depends on price stickiness since, when prices can adjust instantaneously, the steady state equilibrium in our model with uncertainty and risk-aversion collapses to Fershtman and Kamien’s analogue.

scholarly journals Dynamic Oligopoly with Sticky Prices: Closed-Loop, Feedback, and Open-Loop Solutions

2004 ◽  
Vol 10 (3) ◽  
pp. 303-314 ◽  
Author(s):  
R. Cellini ◽  
L. Lambertini
Keyword(s):  
Closed Loop ◽  
Open Loop ◽  
Sticky Prices ◽  
Dynamic Oligopoly ◽  
Loop Feedback ◽  
Closed Loop Feedback

scholarly journals Dynamic Oligopoly with Sticky Prices: Off-Steady-state Analysis

2014 ◽  
Vol 5 (4) ◽  
pp. 568-598 ◽  
Author(s):  
Agnieszka Wiszniewska-Matyszkiel ◽  
Marek Bodnar ◽  
Fryderyk Mirota
Keyword(s):  
Steady State ◽  
Sticky Prices ◽  
Steady State Analysis ◽  
Dynamic Oligopoly ◽  
State Analysis

Demand estimation, risk-aversion and sticky prices

1979 ◽  
Vol 4 (1) ◽  
pp. 1-6 ◽  
Author(s):  
Jacques H. Dreze
Keyword(s):  
Risk Aversion ◽  
Demand Estimation ◽  
Sticky Prices ◽  
Estimation Risk

scholarly journals Dynamic Oligopoly with Sticky Prices: Off-Steady State Analysis

2014 ◽  
Author(s):  
Agnieszka Wiszniewska-Matyszkiel ◽  
Marek Bodnar ◽  
Fryderyk Mirota
Keyword(s):  
Steady State ◽  
Sticky Prices ◽  
Steady State Analysis ◽  
Dynamic Oligopoly ◽  
State Analysis

Sticky prices in a dynamic oligopoly: An investigation of (s,S) thresholds

1999 ◽  
Vol 17 (4) ◽  
pp. 477-511 ◽  
Author(s):  
Margaret E. Slade
Keyword(s):  
Sticky Prices ◽  
Dynamic Oligopoly

Weber's law predicts risk aversion for amounts and risk proneness for delay

1997 ◽  
Author(s):  
Alex Kacelnik
Keyword(s):  
Risk Aversion ◽  
Weber’S Law ◽  
Weber's Law
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