Application of Richardson's Arms Race Model in Oligopolistic CompetitionJournal: International Journal of Science and Research (IJSR) (Vol.10, No. 1)
Publication Date: 2021-01-05
Authors : Kevin Zhang;
Page : 1205-1208
Keywords : competition arms races economics mathematical modelling;
Richardsons Arms Race Model, originally proposed by mathematician Lewis Fry Richardson, has become an important tool in the study of arms races and international conflict. Its potential application outside of political and military science in economics for modeling competition in oligopolistic markets are illustrated.
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