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A Multiple Leader Stackelberg Model and Analysis

Author

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  • Hanif D. Sherali

    (Virginia Polytechnic Institute and State University, Blacksburg, Virginia)

Abstract

This paper presents a new multiple leader-follower model that is a consistent extension of Stackelberg's leader-follower duopoly. The development contrasts with other existing extensions by demonstrating how the leader-firms can utilize the true reaction curve of the follower-firms; it also provides sufficient conditions for some useful convexity and differentiability properties of this function. For the proposed model, we conduct a static analysis and discuss the existence, uniqueness, and computation of an equilibrium solution, as well as study certain issues regarding the relative profits of leader and follower-firms. Since the Cournot oligopoly and the Stackelberg leader-follower models are special cases of this model, the analysis in this paper hopefully provides some further insights about these types of models.

Suggested Citation

  • Hanif D. Sherali, 1984. "A Multiple Leader Stackelberg Model and Analysis," Operations Research, INFORMS, vol. 32(2), pages 390-404, April.
    • Handle: RePEc:inm:oropre:v:32:y:1984:i:2:p:390-404
    DOI: 10.1287/opre.32.2.390
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