Payoff interdependence and the multi-store paradox

被引：6
|
作者：
Hirose, Kosuke [1 ]
Matsumura, Toshihiro [2 ]
机构：
[1] Univ Tokyo, Grad Sch Econ, Tokyo, Japan
[2] Univ Tokyo, Inst Social Sci, Tokyo, Japan
来源：
ASIA-PACIFIC JOURNAL OF ACCOUNTING & ECONOMICS | 2016年 / 23卷 / 03期
关键词：
Interdependent payoff; relative profit; circular-city model; spatial competition; COMPETITION; WEALTH;
D O I：
10.1080/16081625.2016.1188447
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
We solve the multi-store paradox by introducing interdependent payoffs between the firms. We show that firms set up multiple stores unless the degree of payoff interdependence is low. We also show that multiple equilibria, namely intertwined and neighboring location equilibria, exist if the degree of payoff interdependence is intermediate.
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页码：256 / 267
页数：12
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