Dynamics and stability in retail competition

VILLENA, MJ a Axel Alejandro ARANEDA. Dynamics and stability in retail competition. MATHEMATICS AND COMPUTERS IN SIMULATION. AMSTERDAM: ELSEVIER SCIENCE BV, 2017, roč. 134, s. 37-53. ISSN 0378-4754. Dostupné z: https://dx.doi.org/10.1016/j.matcom.2016.09.011.

Základní údaje

Originální název

Dynamics and stability in retail competition

Autoři

VILLENA, MJ a Axel Alejandro ARANEDA

Vydání

MATHEMATICS AND COMPUTERS IN SIMULATION, AMSTERDAM, ELSEVIER SCIENCE BV, 2017, 0378-4754

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Další údaje

Jazyk

angličtina

Typ výsledku

Článek v odborném periodiku

Utajení

není předmětem státního či obchodního tajemství

Impakt faktor

Impact factor: 1.476

DOI

http://dx.doi.org/10.1016/j.matcom.2016.09.011

UT WoS

000392792900004

Klíčová slova anglicky

Multi-market oligopoly; Cournot-Nash competition; Economies of scale; Stability; Chaos

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Anotace

V originále

Retail competition today can be described by three main features: (i) oligopolistic competition, (ii) multi-store settings, and (iii) the presence of large economies of scale. In these markets, firms usually apply a centralized decisions making process in order to take full advantage of economies of scales, e.g. retail distribution centers. In this paper, we model and analyze the stability and chaos of retail competition considering all these issues. In particular, a dynamic multi-market Cournot Nash equilibrium with global economies and diseconomies of scale model is developed. We confirm the non-intuitive hypothesis that retail multi-store competition is more unstable than traditional small business that cover the same demand. The main sources of stability are the scale parameter, the number of markets, and the number of firms. (C) 2016 International Association for Mathematics and Computers in Simulation (IMACS). Published by Elsevier B.V. All rights reserved.