2021-08-06T04:41:27Zhttps://tsukuba.repo.nii.ac.jp/oaioai:tsukuba.repo.nii.ac.jp:000227102021-03-02T07:47:26ZStochastic analysis of number of corporations in a market derived from strategic policies of individual corporations for market entry and retreatSumita, UshioYonezawa, KouichiA stochastic model is developed for describing a market life cycle expressed in terms of number of corporations in the market. Each corporation independently determaines the probability of market entry if it is not in the market yet or the probability of market retreat if it is already in the market. These probabilities may depend on time t, the number of corporations in the market at time t and the number of corporations which have retreated fron the market by time t. Consequently individual corprations are expressed as temporally inhomegeneous Markov chains, and the whole market state is biven by the sum of such Markov chains. An algorithmic procedure is developed for computing the probability distribution of the number of corporations in the market based on spectral analysis of the temporally inhomegeneous Markov chain combined with a bivariate generating function approach. Extensive numerical experiments reveal somewhat surprising results concerning how the market wold be affected interactions among individual corporations with different strategic policies.Includes bibliographical referencestechnical report2003application/pdfhttp://hdl.handle.net/2241/740https://tsukuba.repo.nii.ac.jp/record/22710/files/1.pdfjpnInstitute of Policy and Planning Sciences discussion paper series ~ no. 1045