Denis V. Kuzyutin, Maria V. Nikitina, Nadezhda V. Smirnova, Ludmila N. Razgulyaeva, “The vertical differentiation model in the insurance market: costs structure and equilibria analysis”, Contributions to Game Theory and Management, 8 (2015), 176

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Contributions to Game Theory and Management, 2015, Volume 8, Pages 176–186 (Mi cgtm265)

The vertical differentiation model in the insurance market: costs structure and equilibria analysis

Denis V. Kuzyutin^a, Maria V. Nikitina^b, Nadezhda V. Smirnova^b, Ludmila N. Razgulyaeva^b

^a St. Petersburg State University, Bibliotechnaya pl. 2, St. Petersburg, 198504, Russia
^b Higher School of Economics, Kantemirovskaya ul. 3, St. Petersburg, Russia

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Abstract: We investigate the vertical differentiation model in the insurance market taking into account fixed costs (the costs of quality improvement) of different structure. The subgame perfect equilibrium in a two-stage game is constructed for the case of compulsory insurance when firms use Bertrand–Nash or Stakelberg equilibria at the stage of price competition. For the case of optional insurance we explore and compare the firms optimal behavior in monopoly and duopoly settings.

Keywords: vertical differentiation model, insurance, equilibrium, quality, duopoly, monopoly pricing, fixed costs.

Document Type: Article

Language: English

Citation: Denis V. Kuzyutin, Maria V. Nikitina, Nadezhda V. Smirnova, Ludmila N. Razgulyaeva, “The vertical differentiation model in the insurance market: costs structure and equilibria analysis”, Contributions to Game Theory and Management, 8 (2015), 176–186

Citation in format AMSBIB

\Bibitem{KuzNikSmi15}

\by Denis~V.~Kuzyutin, Maria~V.~Nikitina, Nadezhda~V.~Smirnova, Ludmila~N.~Razgulyaeva

\paper The vertical differentiation model in the insurance market: costs structure and equilibria analysis

\jour Contributions to Game Theory and Management

\yr 2015

\vol 8

\pages 176--186

\mathnet{http://mi.mathnet.ru/cgtm265}

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Full-text PDF :	134
References:	88

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