Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/127385 
Erscheinungsjahr: 
2014
Schriftenreihe/Nr.: 
Discussion Paper Series No. 562
Verlag: 
University of Heidelberg, Department of Economics, Heidelberg
Zusammenfassung: 
We analyze a Hotelling location-then-price duopoly game under demand uncertainty with uniformly distributed consumers in a standard quadratic costs scenario. The novelty of our approach consists of assuming that firms' beliefs are represented by non-extreme-outcome-additive (neo-additive) capacities. We derive firms' subgame-perfect product design decisions under ambiguity. Furthermore, we investigate the influence of ambiguity and ambiguity attitude on equilibrium product differentiation and contrast our results with an environment of risky firms. We find that the impact of the degree of confidence or ambiguity is particularly significant when it comes to delivering accurate explanations for a wide range of phenomena related to observed product design behavior.
Schlagwörter: 
Hotelling
Confidence
Optimism
Pessimism
Degree of Ambiguity
Choquet Expected Utility
Neo-additive Capacities
Product Differentiation
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