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On Yano's Price Leadership Game

In: International Trade and Economic Dynamics

Author

Listed:
  • Makoto Yano

    (Kyoto University)

  • Takashi Komatsubara

    (Keio University)

Abstract

Yano (2001) has constructed a game of endogenous price leadership for a homogeneous product with two firms and different technologies and demonstrated that the state in which the technologically superior firm acts as a price leader is a Nash equilibrium (a superior leader equilibrium). This study extends the original framework of Yano (2001) and spells out technical details so as to fully characterize the Nash equilibria in that framework. We demonstrate the existence of a strong presumption in favor of the emergence of a superior leader equilibrium.

Suggested Citation

  • Makoto Yano & Takashi Komatsubara, 2009. "On Yano's Price Leadership Game," Springer Books, in: Takashi Kamihigashi & Laixun Zhao (ed.), International Trade and Economic Dynamics, pages 513-523, Springer.
  • Handle: RePEc:spr:sprchp:978-3-540-78676-4_33
    DOI: 10.1007/978-3-540-78676-4_33
    as

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