产品差异下的策略投资

在产品差异的情况下, 消费者对各公司产品偏好不同从而公司定价优势也不同. 以市场需求和定价优势为随机变量, 建立了一个非对称双寡头期权博弈模型来研究异质公司的策略投资问题. 推导出抢占投资阈值存在的条件, 并根据其存在情况分析出子博弈纳什均衡策略. 研究发现: 需求下降诱发过度开发的现象除了因抢占市场所致外, 还可能由公司定价优势更大程度的增加引起. 此外, 就相关参数对投资阈值的影响做了比较静态与敏感性分析, 为公司的投资行为提供一定的理论依据和实践指导.

Strategic investment under product differentiation

In the environment of product differentiation,consumer preference for Arms’ products will be different from each other,so is the pricing advantage.An option game model in an asymmetric duopoly market is applied to discuss the strategic investment problem of heterogeneous firms under the stochastic market demand and stochastic pricing advantage.The existence condition of preemptive investment threshold is deduced,and the subgame Nash equilibrium strategy is established.The result shows that preemption is not the merely reason for recession-induced construction boom,which may be caused by a faster increase in pricing advantage.In addition,comparative static and sensitivity analysis are performed to observe the influence of parameters on investment thresholds,which will provide certain theoretical basis and practical guidance for investment behavior.