Dynamic Pricing of New Products in Competitive Markets: A Mean-Field Game Approach

Preprint English OPEN
Chenavaz, Régis; Paraschiv, Corina; Turinici, Gabriel;
(2017)
  • Publisher: HAL CCSD
  • Subject: JEL: C - Mathematical and Quantitative Methods/C.C6 - Mathematical Methods • Programming Models • Mathematical and Simulation Modeling/C.C6.C61 - Optimization Techniques • Programming Models • Dynamic Analysis | JEL : C - Mathematical and Quantitative Methods/C.C6 - Mathematical Methods • Programming Models • Mathematical and Simulation Modeling/C.C6.C62 - Existence and Stability Conditions of Equilibrium | JEL : C - Mathematical and Quantitative Methods/C.C7 - Game Theory and Bargaining Theory/C.C7.C72 - Noncooperative Games | JEL : D - Microeconomics | JEL : D - Microeconomics/D.D4 - Market Structure, Pricing, and Design | [MATH]Mathematics [math] | [ MATH ] Mathematics [math] | JEL: C - Mathematical and Quantitative Methods/C.C7 - Game Theory and Bargaining Theory/C.C7.C72 - Noncooperative Games | JEL: C - Mathematical and Quantitative Methods/C.C6 - Mathematical Methods • Programming Models • Mathematical and Simulation Modeling/C.C6.C62 - Existence and Stability Conditions of Equilibrium | JEL: D - Microeconomics/D.D2 - Production and Organizations/D.D2.D21 - Firm Behavior: Theory | mean-field games | competitive markets | JEL: D - Microeconomics | [ SHS.ECO ] Humanities and Social Sciences/Economies and finances | JEL: D - Microeconomics/D.D4 - Market Structure, Pricing, and Design | [SHS.GESTION]Humanities and Social Sciences/Business administration | new products diffusion | [SHS.ECO]Humanities and Social Sciences/Economies and finances | JEL : D - Microeconomics/D.D2 - Production and Organizations/D.D2.D21 - Firm Behavior: Theory | JEL : D - Microeconomics/D.D4 - Market Structure, Pricing, and Design/D.D4.D41 - Perfect Competition | JEL : C - Mathematical and Quantitative Methods/C.C6 - Mathematical Methods • Programming Models • Mathematical and Simulation Modeling/C.C6.C61 - Optimization Techniques • Programming Models • Dynamic Analysis | [ SHS.GESTION ] Humanities and Social Sciences/Business administration | JEL: D - Microeconomics/D.D4 - Market Structure, Pricing, and Design/D.D4.D41 - Perfect Competition | Dynamic pricing

Dynamic pricing of new products has been extensively studied in monopolistic and oligopolistic markets. But, the optimal control and differential game tools used to investigate the pricing behavior on markets with a finite number of firms are not well-suited to model co... View more
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