G-2003-62
Markov Perfect Equilibrium Advertising Strategies of Lanchester Duopoly Model
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We propose a numerical approach to compute stationary Markov perfect Nash equilibrium advertising strategies of Lanchester model. The algorithm can be implemented using a standard mathematical package and, most importantly, it does not require that the players discount their future earnings at a zero rate, an assumption which has been made in the literature.
Published October 2003 , 17 pages
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Publication
Jan 2004
Markov perfect equilibrium advertising strategies of Lanchester duopoly model - A technical note
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Management Science, 50(7), 995–1000, 2004
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