Management Game Theory by Shaorong Sun & Na Sun
Author:Shaorong Sun & Na Sun
Language: eng
Format: epub
ISBN: 9789811310621
Publisher: Springer Singapore
4.1.2 First-Move Advantage in Continuous Behaviour
Continuous behaviour refers to the change between actions as being a continuous situation. For instance, in the bidding process if each quote from the buyer is an action, because the price that can be quoted is continuous, then the behaviour is a kind of continuous behaviour.
In order to contrast it with the advantage of the person making the first move, we will first introduce a classic game model without first-move advantage—the Cournot model. Then the model with first-move advantage will be introduced—the Stackelberg model.
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