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A Note on Feedback Sequential Equilibria in a Lanchester Model with Empirical Application

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Author Info

  • Michèle Breton

    ()
    (CREF and GERAD, HEC Montréal, Montréal, Québec, Canada H3T 2A7)

  • Ramla Jarrar

    ()
    (Ohal Limited, WPP, 5-11 Lee Road, BlackHeath, London, United Kingdom SE3 9RQ)

  • Georges Zaccour

    ()
    (GERAD, HEC Montréal, Montréal, Québec, Canada H3T 2A7)

Abstract

We study in this paper dynamic equilibrium advertising strategies in a duopoly with asymmetric information structure and sequential play. The advertising model of Lanchester is used in a game where the relevant solution concept is feedback Stackelberg equilibrium, which is subgame perfect. An algorithm is devised for the computation of this equilibrium, and numerical results are reported and discussed. Using a data set from the cola market, we obtain the resulting advertising strategies and provide a comparison with closed-loop and open-loop Nash equilibria.

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File URL: http://dx.doi.org/10.1287/mnsc.1050.0475
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Bibliographic Info

Article provided by INFORMS in its journal Management Science.

Volume (Year): 52 (2006)
Issue (Month): 5 (May)
Pages: 804-811

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Handle: RePEc:inm:ormnsc:v:52:y:2006:i:5:p:804-811

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Related research

Keywords: Lanchester model; Stackelberg equilibrium; advertising strategies; cola market;

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Cited by:
  1. Huang, Jian & Leng, Mingming & Liang, Liping, 2012. "Recent developments in dynamic advertising research," European Journal of Operational Research, Elsevier, vol. 220(3), pages 591-609.
  2. Steffen Jørgensen & Georges Zaccour, 2007. "Developments in differential game theory and numerical methods: economic and management applications," Computational Management Science, Springer, vol. 4(2), pages 159-181, April.
  3. Talat S. Genc & Georges Zaccour, 2010. "Investment Dynamics: Good News Principle," Working Papers 1006, University of Guelph, Department of Economics and Finance.

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