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Two-Stage Market with a Random Factor

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Operations Research Proceedings 2012

Part of the book series: Operations Research Proceedings ((ORP))

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Abstract

We construct and investigate a mathematical model of a two-stage market. Strategies that correspond to the subgame perfect equilibrium are determined depending on the parameters of the model. We compare the subgame perfect equilibrium with the Nash equilibrium of a one-stage model. The main contribution is a consideration of a random factor that affects the outcome in the spot market.

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References

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Author information

Authors and Affiliations

  1. Faculty of Computational Mathematics and Cybernetics, Lomonosov Moscow State University, Leninskiye Gory 1-52, 119991, Moscow, Russia

    Ekaterina Daylova & Alexander Vasin

Authors
  1. Ekaterina Daylova
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  2. Alexander Vasin
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Corresponding author

Correspondence to Ekaterina Daylova .

Editor information

Editors and Affiliations

  1. Institute of Production Management, Leibniz Universität Hannover, Hannover, Germany

    Stefan Helber

  2. Institute for Information Systems Resear, Leibniz Universität Hannover, Hannover, Germany

    Michael Breitner

  3. Institute for Banking and Finance, Leibniz Universität Hannover, Hannover, Germany

    Daniel Rösch

  4. Institute of Production Management, Leibniz Universität Hannover, Hannover, Germany

    Cornelia Schön

  5. Institute for Risk and Insurance, Leibniz Universität Hannover, Hannover, Germany

    Johann-Matthias Graf von der Schulenburg

  6. Institute of Statistics, Leibniz Universität Hannover, Hannover, Germany

    Philipp Sibbertsen

  7. Institute of Applied Mathematics, Leibniz Universität Hannover, Hannover, Germany

    Marc Steinbach

  8. Institute of Probability and Statistics, Leibniz Universität Hannover, Hannover, Germany

    Stefan Weber

  9. Institute of Production Management, Leibniz Universität Hannover, Hannover, Germany

    Anja Wolter

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© 2014 Springer International Publishing Switzerland

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Daylova, E., Vasin, A. (2014). Two-Stage Market with a Random Factor. In: Helber, S., et al. Operations Research Proceedings 2012. Operations Research Proceedings. Springer, Cham. https://doi.org/10.1007/978-3-319-00795-3_32

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