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Research Paper | Economics | Singapore | Volume 10 Issue 1, January 2021 | Rating: 6.4 / 10
Application of Richardsons Arms Race Model in Oligopolistic Competition
Kevin Zhang, Zi Qian Chan
Abstract: 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.
Keywords: competition, arms races, economics, mathematical modelling
Edition: Volume 10 Issue 1, January 2021,
Pages: 1205 - 1208