The Equilibrium of Duopoly in a Market of Homogeneous Goods.
In this paper, we consider duopoly equilibria in which firms act rationally on the basis of mutually consistent assumptions about their rivals' behaviour. It turns out that there exist various kinds of equilibria corresponding to various pairs of behaviour patterns. Depending on the relation between...
| Publicado en: | Economica Vol. 45; no. 179; pp. 287 - 296 |
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| Formato: | Artículo |
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Wiley-Blackwell
Aug78
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| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=hlh&AN=4517832&site=ehost-live header: @attributes: shortDbName: hlh uiTerm: 4517832 longDbName: Humanities International Complete uiTag: AN controlInfo: bkinfo: jinfo: jid: 00130427 ECA jtl: Economica issn: 00130427 maglogo: Y pubinfo: dt: Aug78 vid: 45 iid: 179 pid: 480 pub: Wiley-Blackwell artinfo: ui: 4517832 10.2307/2553073 ppf: 287 ppct: 9 formats: tig: atl: The Equilibrium of Duopoly in a Market of Homogeneous Goods. aug: au: Ono, Yoshiyasu affil: University of Tokyo su: Economic equilibrium Business enterprises Behavior Demand function Cost Monopolies Pricing Competition Quasi contracts sug: subj: Economic equilibrium Business enterprises Behavior Demand function Cost Monopolies Pricing Competition Quasi contracts ab: In this paper, we consider duopoly equilibria in which firms act rationally on the basis of mutually consistent assumptions about their rivals' behaviour. It turns out that there exist various kinds of equilibria corresponding to various pairs of behaviour patterns. Depending on the relation between the firms' cost functions and the market demand functions there are different outcomes: monopoly, limit-pricing, stable asymmetric duopoly with one firm a price-maker and the other (less efficient) firm a price-taker, and unstable symmetric duopoly which might have price competition (as in Bertrand, 1883) or quasi-agreement (Fellner, 1960). pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: Y dt: @attributes: year: 1978 holdings: @attributes: islocal: N |
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