{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,3,16]],"date-time":"2026-03-16T10:20:36Z","timestamp":1773656436346,"version":"3.50.1"},"reference-count":49,"publisher":"Emerald","issue":"3","license":[{"start":{"date-parts":[[2019,3,4]],"date-time":"2019-03-04T00:00:00Z","timestamp":1551657600000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.emerald.com\/insight\/site-policies"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["K"],"published-print":{"date-parts":[[2019,3,4]]},"abstract":"<jats:sec><jats:title content-type=\"abstract-subheading\">Purpose<\/jats:title><jats:p>The purpose of this study is to analyze comparatively the properties of open-loop and closed-loop equilibria in a dynamic oligopoly model with price dynamics and reflexive behavior of market agents.<\/jats:p><\/jats:sec><jats:sec><jats:title content-type=\"abstract-subheading\">Design\/methodology\/approach<\/jats:title><jats:p>To consider dynamic competitive markets, the authors focus on a differential game theory in oligopolistic structures, using analytical models to illustrate how advertising effort, good differentiation and price stickiness interact simultaneously in the open-loop and the closed-loop Nash equilibria. The comparative assessment of these equilibria obtains some significant results.<\/jats:p><\/jats:sec><jats:sec><jats:title content-type=\"abstract-subheading\">Findings<\/jats:title><jats:p>An optimization model that enriches the continuous time is presented. Under the open-loop and the closed-loop, Nash equilibrium showed an increase in the total output, advertising in price stickiness and promotional efficiency, while there was a decrease in product differentiation and advertising promotional efficiency. However, the open-loop equilibrium levels are larger than the closed-loop equilibrium. Under the closed-loop information, the long-run equilibrium was faster than the opened-loop in a dynamic oligopoly. The graphical illustration was used to present the behavior of the model parameters.<\/jats:p><\/jats:sec><jats:sec><jats:title content-type=\"abstract-subheading\">Practical implications<\/jats:title><jats:p>This study helps managers to choose an appropriate price and advertising adjustment to maximize profit. The obtained results may help firms to make the smart decision and may provide managers the valuable tool for making decisions in the competitive market environments.<\/jats:p><\/jats:sec><jats:sec><jats:title content-type=\"abstract-subheading\">Originality\/value<\/jats:title><jats:p>This is a first attempt to analyze a dynamic oligopoly in the differentiated market environment. It considers a joint action of the output and advertising in shaping the closed-loop and the open-loop equilibria with N competitors in a dynamic competitive setting.<\/jats:p><\/jats:sec>","DOI":"10.1108\/k-02-2018-0067","type":"journal-article","created":{"date-parts":[[2018,10,30]],"date-time":"2018-10-30T04:33:55Z","timestamp":1540874035000},"page":"586-611","source":"Crossref","is-referenced-by-count":9,"title":["A dynamic differential oligopoly game with sticky price and advertising"],"prefix":"10.1108","volume":"48","author":[{"given":"Marjan","family":"Raoufinia","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Vahid","family":"Baradaran","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Reza","family":"Shahrjerdi","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"140","reference":[{"key":"key2020092411282185600_ref001","article-title":"Applications of control theory to economic growth","volume-title":"Mathematics of the Decision Sciences, Part 2","year":"1968","edition":"Eds"},{"issue":"1","key":"key2020092411282185600_ref002","first-page":"33","article-title":"Advertising and R&D: theory and evidence from France","volume":"25","year":"2015","journal-title":"Economics of Innovation and New Technology"},{"key":"key2020092411282185600_ref003","doi-asserted-by":"crossref","first-page":"65","DOI":"10.1007\/978-3-319-11626-6_4","article-title":"Vertical cooperative advertising and pricing decisions in a manufacturer-retailer supply chain: a game-theoretic approach","volume-title":"Vertical Cooperative Advertising in Supply Chain Management","year":"2015"},{"key":"key2020092411282185600_ref004","doi-asserted-by":"crossref","first-page":"127","DOI":"10.1016\/0167-2231(94)00016-6","article-title":"A sticky-price manifesto","volume":"41","year":"1994","journal-title":"Carnegie-Rochester Conference Series on Public Policy"},{"key":"key2020092411282185600_ref005","volume-title":"Dynamic Noncooperative Game Theory","year":"1995","edition":"2nd"},{"issue":"1","key":"key2020092411282185600_ref006","doi-asserted-by":"crossref","first-page":"145","DOI":"10.1006\/jeth.1998.2454","article-title":"A dynamic model of differentiated oligopoly with capital accumulation","volume":"83","year":"1998","journal-title":"Journal of Economic Theory"},{"issue":"1","key":"key2020092411282185600_ref007","doi-asserted-by":"crossref","first-page":"51","DOI":"10.1016\/S0165-1889(01)00026-4","article-title":"A differential game approach to investment in product differentiation","volume":"27","year":"2002","journal-title":"Journal of Economic Dynamics and Control"},{"key":"key2020092411282185600_ref008","unstructured":"Cellini, R. and Lambertini, L. 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