A Game of Two Elderly Care Facilities: Competition, Mothballing Options, and Policy Implications

Table 1

Parameter specifications for the elderly care service market.

Parameter	Variable	Value	Unit
Discount rate		0.05	/year
Expected growth rate		0.04	/year
Volatility		0.20	/year
Demand		4.00	Beds
Demand		2.50	Beds
Variable cost		2.00	10^4 RMB Yuan/year
Fixed cost		100.00	10^4 RMB Yuan/year
Government subsidy		7.00	10^6 RMB Yuan/year