Advertising and Oligopolistic Equilibrium

James W. Friedman

134 citations0/0 files storedThe Bell Journal of Economics

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Merger and Competition Analysis Marketing and Advertising Strategies Consumer Market Behavior and Pricing

Abstract

This article analyzes advertising in an n-firm infinite horizon, differentiated products oligopoly. The firms all choose output and advertising levels in each period, and are assumed to behave noncooperatively. Advertising is characterized in a manner similar to capital: the effects of money spent on advertising today last well into the future. The interfirm advertising effect can be either cooperative or predatory, and in a linear-quadratic version of the model, this degree of cooperativeness is represented by a parameter. Existence and uniqueness of the Nash equilibrium are obtained, along with many comparative statics results.

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References

1968International Encyclopedia of the Social Sciences.2020Researches into the Mathematical Principles of the Theory of Wealth 1976Optimal Advertising Policy Under Dynamic Conditions 1978Oligopoly and the Theory of Games.1980Market Structure and Behavior 1972The economics of advertising 1942The Economic Effects of Advertising.1976Advertising and Cigarettes

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