Scandinavian Working Papers in Economics
Discussion Papers,
Statistics Norway, Research Department
No 454: On Nash equilibrium in prices in an oligopolistic market with demand characterized by a nested multinomial logit model and multiproduct firm as nest
Gang Liu ()
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Gang Liu: Statistics Norway
Abstract: This note provides a proof on existence and uniqueness of Nash equilibrium in prices in a market where the demand side is characterized by a nested multinomial logit model with multiproduct firm as nest and the supply side consists of oligopolistic price-setting multiproduct firms with each producing various differentiated variants.
Keywords: oligopolistic market; multiproduct firm; nested multinomial logit model; Nash equilibrium
JEL-codes: C25; C62; C72; D43; L13 April 2006
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