Advertising Competition in a Dynamic Oligopoly with Multiple Brands
成果类型：
Article
署名作者：
Erickson, Gary M.
署名单位：
University of Washington; University of Washington Seattle
刊物名称：
OPERATIONS RESEARCH
ISSN/ISSBN：
0030-364X
DOI：
10.1287/opre.1080.0663
发表日期：
2009
页码：
1106-1113
关键词：
摘要：
A model is developed that allows the derivation of feedback Nash equilibrium advertising strategies for oligopolistic competitors. The model is an extension of a modified Vidale-Wolfe model that incorporates multiple brands per competitor. The resulting expressions of feedback advertising strategies are combined with those for sales dynamics in an empirical model that is applied to the carbonated soft drink market, which involves three primary competitors and five primary brands. The research provides the following contributions: A modification of the Vidale-Wolfe model is extended to allow dynamic analysis of an oligopoly in which the competitors each offer multiple brands. The model extension permits the derivation of a feedback Nash equilibrium. The determination of a feedback Nash equilibrium enhances empirical analysis by allowing an expanded empirical model that includes the explicit modeling of endogenous advertising along with demand relationships.