Flexibility in a Stackelberg leadership with differentiated goods

Detalhes bibliográficos
Autor(a) principal: Ferreira, Fernanda A.
Data de Publicação: 2014
Outros Autores: Ferreira, Flávio, Ferreira, Miguel, Pinto, Alberto A.
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10400.22/3212
Resumo: We study the effects of product differentiation in a Stackelberg model with demand uncertainty for the first mover. We do an ex-ante and ex-post analysis of the profits of the leader and of the follower firms in terms of product differentiation and of the demand uncertainty. We show that even with small uncertainty about the demand, the follower firm can achieve greater profits than the leader, if their products are sufficiently differentiated. We also compute the probability of the second firm having higher profit than the leading firm, subsequently showing the advantages and disadvantages of being either the leader or the follower firm.
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spelling Flexibility in a Stackelberg leadership with differentiated goodsGame theoryStackelberg modelDemand uncertaintyDifferentiationPerfect Bayesian equilibriumWe study the effects of product differentiation in a Stackelberg model with demand uncertainty for the first mover. We do an ex-ante and ex-post analysis of the profits of the leader and of the follower firms in terms of product differentiation and of the demand uncertainty. We show that even with small uncertainty about the demand, the follower firm can achieve greater profits than the leader, if their products are sufficiently differentiated. We also compute the probability of the second firm having higher profit than the leading firm, subsequently showing the advantages and disadvantages of being either the leader or the follower firm.This work is part-funded by the ERDF European Regional Development Fund through the COMPETE Programme (operational programme for competitiveness) and by National Funds through the FCT Fundação para a Ciência e a Tecnologia (Portuguese Foundation for Science and Technology)within project FCOMP – 01-0124-FEDER-022701.This work was partly funded by National Funds through the FCT Fundação para a Ciência e a Tecnologia (Portuguese Foundation for Science and Technology) within project PTDC/MAT/121107/2010. Fernanda Ferreira, Flávio Ferreira and Miguel Ferreira thank financial support from ESEIG/IPP. Alberto Pinto also thanks financial support from FCUP/UP. Miguel Ferreira also thanks financial support given by FCT in the form of a Pos-Doc grant with the reference SFRH/BPD/73357/2010.Taylor & FrancisRepositório Científico do Instituto Politécnico do PortoFerreira, Fernanda A.Ferreira, FlávioFerreira, MiguelPinto, Alberto A.2014-01-06T11:20:42Z20152015-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.22/3212engFernanda A. Ferreira, Flávio Ferreira, Miguel Ferreira & Alberto A. Pinto (2015) Flexibility in a Stackelberg leadership with differentiated goods, Optimization, 64:4, 877-893, DOI: 10.1080/02331934.2013.8366491029-494510.1080/02331934.2013.83664910.1080/02331934.2013.836649info:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-03-13T12:43:00Zoai:recipp.ipp.pt:10400.22/3212Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T17:24:13.235622Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Flexibility in a Stackelberg leadership with differentiated goods
title Flexibility in a Stackelberg leadership with differentiated goods
spellingShingle Flexibility in a Stackelberg leadership with differentiated goods
Ferreira, Fernanda A.
Game theory
Stackelberg model
Demand uncertainty
Differentiation
Perfect Bayesian equilibrium
title_short Flexibility in a Stackelberg leadership with differentiated goods
title_full Flexibility in a Stackelberg leadership with differentiated goods
title_fullStr Flexibility in a Stackelberg leadership with differentiated goods
title_full_unstemmed Flexibility in a Stackelberg leadership with differentiated goods
title_sort Flexibility in a Stackelberg leadership with differentiated goods
author Ferreira, Fernanda A.
author_facet Ferreira, Fernanda A.
Ferreira, Flávio
Ferreira, Miguel
Pinto, Alberto A.
author_role author
author2 Ferreira, Flávio
Ferreira, Miguel
Pinto, Alberto A.
author2_role author
author
author
dc.contributor.none.fl_str_mv Repositório Científico do Instituto Politécnico do Porto
dc.contributor.author.fl_str_mv Ferreira, Fernanda A.
Ferreira, Flávio
Ferreira, Miguel
Pinto, Alberto A.
dc.subject.por.fl_str_mv Game theory
Stackelberg model
Demand uncertainty
Differentiation
Perfect Bayesian equilibrium
topic Game theory
Stackelberg model
Demand uncertainty
Differentiation
Perfect Bayesian equilibrium
description We study the effects of product differentiation in a Stackelberg model with demand uncertainty for the first mover. We do an ex-ante and ex-post analysis of the profits of the leader and of the follower firms in terms of product differentiation and of the demand uncertainty. We show that even with small uncertainty about the demand, the follower firm can achieve greater profits than the leader, if their products are sufficiently differentiated. We also compute the probability of the second firm having higher profit than the leading firm, subsequently showing the advantages and disadvantages of being either the leader or the follower firm.
publishDate 2014
dc.date.none.fl_str_mv 2014-01-06T11:20:42Z
2015
2015-01-01T00:00:00Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10400.22/3212
url http://hdl.handle.net/10400.22/3212
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv Fernanda A. Ferreira, Flávio Ferreira, Miguel Ferreira & Alberto A. Pinto (2015) Flexibility in a Stackelberg leadership with differentiated goods, Optimization, 64:4, 877-893, DOI: 10.1080/02331934.2013.836649
1029-4945
10.1080/02331934.2013.836649
10.1080/02331934.2013.836649
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Taylor & Francis
publisher.none.fl_str_mv Taylor & Francis
dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron:RCAAP
instname_str Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron_str RCAAP
institution RCAAP
reponame_str Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
collection Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
repository.name.fl_str_mv Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
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