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Reexamination of Stackelberg Leadership: Fixed Supply Contracts Under Demand Uncertainty

Author

Listed:
  • Hirokawa, M.
  • Sasaki, D.

Abstract

This paper shows an endogenous Stackelberg leader-follower relation that stems purely from commitment, not from chronological order of entry. We consider a symmetric duopoly game with a priori demand uncertainty which resolves after a short term. In the beginning, each supplier is allowed to make either a short-term or a long-term fixed-quantity supply contract with retailers. The choice of contractual term lengths depends upon the degree of demand uncertainty as well as time preferences.

Suggested Citation

  • Hirokawa, M. & Sasaki, D., 1998. "Reexamination of Stackelberg Leadership: Fixed Supply Contracts Under Demand Uncertainty," Department of Economics - Working Papers Series 600, The University of Melbourne.
    • Handle: RePEc:mlb:wpaper:600
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    Keywords

    DYNAMIC ANALYSIS ; DEMAND;

    JEL classification:

    • L13 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Oligopoly and Other Imperfect Markets
    • D43 - Microeconomics - - Market Structure, Pricing, and Design - - - Oligopoly and Other Forms of Market Imperfection
    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games

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