Lead, Follow or Cooperate? Sequential versus Collusive Payoffs in Symmetric Duopoly Games

Figure 8

Numerical example—red line: (𝑥^𝑐𝑡−𝑥^𝑠_𝑗) = Coop. output − follower’s output; black dotted line: (𝜋^𝑐−𝜋^ℓ)= coop. payoff − leader’s payoff. 𝑏=0.1,…,0.15.