4 Consider an industry where two producers sell a product which is differentiated only by quality, in
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4 Consider an industry where two producers sell a product which is differentiated only by quality, in a market where a share 0 < ψ < 1 of consumers are aware of the quality of the product being sold, but the other 1 − ψ consumers are unaware of the quality of each producer’s output. Producer H sells the highest-quality good, while producer L sells the lowest-quality good. The two producers compete in prices.
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Artificial Intelligence For Games
ISBN: 9780080885032
2nd Edition
Authors: Ian Millington, John Funge, Millington
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