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Nash-equilibria in a heterogeneous oligopoly with fuzzy information


  • Nils Hauenschild


  • Peter Stahlecker


We consider a model of an oligopolistic market with heterogeneous firms and products where neither the cost nor the demand functions are common knowledge. Instead, each firm only has some vague ideas about the price strategies adopted by its competitors which is modelled by a fuzzy set. In analogy to the notion of an "equilibrium of actions and beliefs" we define and characterize a generalized Nash-equilibrium and show its existence under general conditions. Furthermore, the impact of the fuzzy information on the equilibrium outcome is analyzed by means of a comparative static analysis within a particular model framework. Copyright Springer-Verlag Berlin/Heidelberg 2003

Suggested Citation

  • Nils Hauenschild & Peter Stahlecker, 2003. "Nash-equilibria in a heterogeneous oligopoly with fuzzy information," Review of Economic Design, Springer;Society for Economic Design, vol. 8(2), pages 165-184, October.
  • Handle: RePEc:spr:reecde:v:8:y:2003:i:2:p:165-184 DOI: 10.1007/s10058-003-0099-6

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    References listed on IDEAS

    1. Godfrey Keller & Sven Rady, 1999. "Optimal Experimentation in a Changing Environment," Review of Economic Studies, Oxford University Press, vol. 66(3), pages 475-507.
    2. Philippe Aghion & Patrick Bolton & Christopher Harris & Bruno Jullien, 1991. "Optimal Learning by Experimentation," Review of Economic Studies, Oxford University Press, vol. 58(4), pages 621-654.
    3. Mirman, Leonard J & Samuelson, Larry & Urbano, Amparo, 1993. "Monopoly Experimentation," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 34(3), pages 549-563, August.
    4. Lazear, Edward P, 1986. "Retail Pricing and Clearance Sales," American Economic Review, American Economic Association, vol. 76(1), pages 14-32, March.
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    Cited by:

    1. A. Ganji & D. Khalili & M. Karamouz & K. Ponnambalam & M. Javan, 2008. "A Fuzzy Stochastic Dynamic Nash Game Analysis of Policies for Managing Water Allocation in a Reservoir System," Water Resources Management: An International Journal, Published for the European Water Resources Association (EWRA), Springer;European Water Resources Association (EWRA), vol. 22(1), pages 51-66, January.


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