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A Quasi-Game Theory Approach to Pricing

Author

Listed:
  • Ambar G. Rao

    (New York University)

  • Melvin F. Shakun

    (New York University)

Abstract

A quasi-game theory approach to market-entry pricing is taken for a product class where price is the only indicator of quality. The model is based on certain hypotheses regarding individual customer behavior, which is then aggregated to find demand for a product given its price. Using game theoretic thinking and assumptions about brand behavior, optimal pricing policies are derived.

Suggested Citation

  • Ambar G. Rao & Melvin F. Shakun, 1972. "A Quasi-Game Theory Approach to Pricing," Management Science, INFORMS, vol. 18(5-Part-2), pages 110-228, January.
  • Handle: RePEc:inm:ormnsc:v:18:y:1972:i:5-part-2:p:110-228
    DOI: 10.1287/mnsc.18.5.110
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    Cited by:

    1. Oluwakemi T. Oreagba & Olaleke O. Ogunnaike & Oladele J. Kehinde, 2021. "Capitalizing on Game Theory for Optimal Marketing Decision in Service Industry: Evidence From Telecommunication Industry in Nigeria," SAGE Open, , vol. 11(2), pages 21582440211, June.
    2. Kleindorfer, Paul R. & Wu, D. -J. & Fernando, Chitru S., 2001. "Strategic gaming in electric power markets," European Journal of Operational Research, Elsevier, vol. 130(1), pages 156-168, April.

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