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A Differential Game Model of Duopoly

S. Clemhout; G. Leitmann; Henry Wan
Econometrica 1971 39(6), 911
[The present study considers two duopolists each trying to outsell the other, under a non-negative profit constraint. Both advertisement and the customer-held stocks are brought into play. The optimal behavior for the duopolists is deduced from a mathematical model of differential games.]