Download or read book On Welfare Under Cournot and Bertrand Competition in Differentiated Oligopolies written by Yu-Pei Judy Hsu and published by . This book was released on 2007 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Hackner (2000, Journal of Economic Theory 93, 233-239) shows that in a differentiated oligopoly with more than two firms, prices may be higher under Bertrand competition than under Cournot competition, implying that the classical result of Singh and Vives (1984, Rand Journal of Economics, 15, 546-554) that Bertrand prices are always lower than Cournot prices is sensitive to the duopoly assumption. Hackner (2000, Journal of Economic Theory, 93, 233-239), however, leaves unanswered the important question of whether welfare may be lower under price competition. This note shows that in Hackner's model both consumer surplus and total surplus are higher under price competition than under quantity competition, regardless of whether goods are substitutes or complements.
Download or read book Does the Excess Entry Theorem Hold in a Differentiated Oligopoly written by Koichi Kagitani and published by . This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Though it is generally believed that increasing competition improves social welfare, we are able to show with a Shubik-Levitan demand function for differentiated goods that this is not always the case. Under Cournot and Bertrand competition, market entry increases the equilibrium total output and lowers the equilibrium price in the case of substitutes, but it reduces the total output and raises the price in the case of complements. In the long run, the equilibrium number of firms is excessive and the equilibrium cannot achieve even the second-best social welfare under either type of competition, regardless of product substitutability or complementarity.
Download or read book The Economics of Vertically Differentiated Markets written by Luca Lambertini and published by Edward Elgar Publishing. This book was released on 2006-01-01 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'This is a high-quality book on an important and central topic in the theory of industrial organisation. It is a cohesive and extremely well written volume which is destined to become a standard work on the subject.' - Mark Casson, University of Reading, UK This original new book offers a comprehensive and engaging perspective on the theory of vertical differentiation. It enables the reader to grasp the key concepts and effects that product quality has both on firms' behaviour and market structure, and the ways in which this relationship has evolved. With contributions from prominent figures in the field, the book investigates a number of important topics, such as the choice of the optimal product range, profit sharing, the existence of equilibrium in duopoly games, positional effects attached to status goods, international trade, collusion, advertising and the dynamics of capital accumulation for quality improvement and product innovation. Using both static and dynamic approaches, these aspects are assessed in relation to the manifold issues of regulation, competition policy and trade policy. Product differentiation and its influence on consumer behaviour and the performance of firms is a core topic in the existing literature in the fields of industrial organization, international trade and economic growth. This book will be an essential read for researchers, students and professional scholars working in these areas, especially those with an interest in antitrust regulation.
Download or read book The Welfare Effects of Third Degree Price Discrimination in a Differentiated Oligopoly written by Takanori Adachi and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This article examines the welfare effects of third-degree price discrimination under oligopolistic competition with horizontal product differentiation. We derive a necessary and sufficient condition for price discrimination to improve social welfare: the degree of substitution must be sufficiently greater in the “strong” market (where the discriminatory price is higher than the uniform price) than in the “weak” market (where it is lower). It is verified, however, that consumer surplus is never improved; social welfare improves solely owing to an increase in the firms' profits in the case of linear demands.
Download or read book Regularity Results for Nonlinear Elliptic Systems and Applications written by Alain Bensoussan and published by Springer Science & Business Media. This book was released on 2013-04-17 with total page 450 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book collects many helpful techniques for obtaining regularity results for solutions of nonlinear systems of partial differential equations. These are applied in various cases to provide useful examples and relevant results, particularly in such fields as fluid mechanics, solid mechanics, semiconductor theory and game theory.
Download or read book Discontinuity and Complexity in Nonlinear Physical Systems written by J. A. Tenreiro Machado and published by Springer Science & Business Media. This book was released on 2013-12-04 with total page 433 pages. Available in PDF, EPUB and Kindle. Book excerpt: Discontinuity in Nonlinear Physical Systems explores recent developments in experimental research in this broad field, organized in four distinct sections. Part I introduces the reader to the fractional dynamics and Lie group analysis for nonlinear partial differential equations. Part II covers chaos and complexity in nonlinear Hamiltonian systems, important to understand the resonance interactions in nonlinear dynamical systems, such as Tsunami waves and wildfire propagations; as well as Lev flights in chaotic trajectories, dynamical system synchronization and DNA information complexity analysis. Part III examines chaos and periodic motions in discontinuous dynamical systems, extensively present in a range of systems, including piecewise linear systems, vibro-impact systems and drilling systems in engineering. And in Part IV, engineering and financial nonlinearity are discussed. The mechanism of shock wave with saddle-node bifurcation and rotating disk stability will be presented, and the financial nonlinear models will be discussed.
Download or read book Oligopoly Pricing written by Xavier Vives and published by MIT Press (MA). This book was released on 1999 with total page 446 pages. Available in PDF, EPUB and Kindle. Book excerpt: Applies a modern game-theoretic approach to develop a theory of oligopoly pricing. The text relates classic contributions to the field of modern game theory and discusses basic game-theoretic tools and equilibrium, paying particular attention to developments in the theory of supermodular games.
Download or read book Intermediate Microeconomics written by Patrick M. Emerson and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Oligopoly Theory written by James Friedman and published by CUP Archive. This book was released on 1983-09-30 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt: James Friedman provides a thorough survey of oligopoly theory using numerical examples and careful verbal explanations to make the ideas clear and accessible. While the earlier ideas of Cournot, Hotelling, and Chamberlin are presented, the larger part of the book is devoted to the modern work on oligopoly that has resulted from the application of dynamic techniques and game theory to this area of economics. The book begins with static oligopoly theory. Cournot's model and its more recent elaborations are covered in the first substantive chapter. Then the Chamberlinian analysis of product differentiation, spatial competition, and characteristics space is set out. The subsequent chapters on modern work deal with reaction functions, advertising, oligopoly with capital, entry, and oligopoly using noncooperative game theory. A large bibliography is provided.
Download or read book Cournot Oligopoly written by Andrew F. Daughety and published by Cambridge University Press. This book was released on 1988 with total page 455 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume focuses on the properties and uses of Cournot's model of competition among the few.
Download or read book Firms Strategic Decisions Theoretical and Empirical Findings written by Kazuhiro Ohnishi and published by Bentham Science Publishers. This book was released on 2016-05-05 with total page 301 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the second volume of the book series featuring empirical research conducted on business decision making policies of oligopolistic organizations. This volume brings together 11 chapters that cover economic and mathematical models to illustrate strategic decision making among different organizations. Topics covered in this volume include, the theory of firm behavior, the Bertrand model of an incumbent and a potential industrial entrant, strategic interactions in vertically related industries, financial losses of enterprises caused by breaks of information security systems and the association of certain funding choices with efficiency in small medium enterprises. Thus the volume encompasses a fresh collection of works on firm behavior and industrial economics.
Download or read book The Economics of Competition Collusion and In between written by Claude d’Aspremont and published by Springer Nature. This book was released on 2021-05-18 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a methodology for the analysis of oligopolistic markets from an equilibrium viewpoint, considering competition within and between groups of firms. It proposes a well-founded measure of competitive toughness that can be used in empirically relevant applications. This measure reflects the weight put by each firm on competition for market share relative to competition for market size – two dimensions of competition involving conflicting and convergent interests, respectively. It further explores several applications, such as the effect of tougher competition on innovation and of output market power on the emergence of involuntary unemployment, as well as the importance of strategic interactions for investment decisions. Relative to the dominant model of monopolistic competition, The Economics of Competition, Collusion and In-between aims to explore an alternative tractable model of firm competition opening the application of oligopoly theory to many fields in economics where general equilibrium features are crucial. It will be relevant to those interested in applied industrial organization, trade, macroeconomics (in particular macrodynamics) and quantitative economics.
Download or read book Researches Into the Mathematical Principles of the Theory of Wealth written by Antoine Augustin Cournot and published by New York : Macmillan Company, 1927 [c1897]. This book was released on 1897 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Handbook of Game Theory and Industrial Organization Volume I written by Luis C. Corchón and published by Edward Elgar Publishing. This book was released on 2018-02-23 with total page 567 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first volume of this wide-ranging Handbook contains original contributions by world-class specialists. It provides up-to-date surveys of the main game-theoretic tools commonly used to model industrial organization topics. The Handbook covers numerous subjects in detail including, among others, the tools of lattice programming, supermodular and aggregative games, monopolistic competition, horizontal and vertically differentiated good models, dynamic and Stackelberg games, entry games, evolutionary games with adaptive players, asymmetric information, moral hazard, learning and information sharing models.
Download or read book Market Structure and Behavior written by Martin Shubik and published by . This book was released on 2013-10-01 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Frontiers in Games and Dynamic Games written by David Yeung and published by Springer Nature. This book was released on 2020-06-08 with total page 243 pages. Available in PDF, EPUB and Kindle. Book excerpt: This contributed volume presents the state-of-the-art of games and dynamic games, featuring several chapters based on plenary sessions at the ISDG-China Chapter Conference on Dynamic Games and Game Theoretic Analysis, which was held from August 3-5, 2017 at the Ningbo campus of the University of Nottingham, China. The chapters in this volume will provide readers with paths to further research, serving as a testimony to the vitality of the field. Experts cover a range of theory and applications related to games and dynamic games, with topics including: Dynamically stable cooperative provision of public goods under non-transferable utility Strongly time-consistent solutions in cooperative dynamic games Incentive Stackelberg games for stochastic systems Static and inverse Stackelberg games in political economy Cournot and Betrand competition on symmetric R&D networks Numerical Nash equilibria using curvilinear multistart algorithm Markov chain approximation numerical scheme for infinite-horizon mean field games Frontiers in Games and Dynamic Games will appeal to an interdisciplinary audience of researchers, practitioners, and graduate students interested in games and dynamic games.
Download or read book Introduction to Industrial Organization second edition written by Luis M. B. Cabral and published by MIT Press. This book was released on 2017-02-24 with total page 441 pages. Available in PDF, EPUB and Kindle. Book excerpt: An issue-driven introduction to industrial organization, thoroughly updated and revised. The study of industrial organization (IO)—the analysis of the way firms compete with one another—has become a key component of economics and of such related disciplines as finance, strategy, and marketing. This book provides an issue-driven introduction to industrial organization. Although formal in its approach, it is written in a way that requires only basic mathematical training. It includes a vast array of examples, from both within and outside the United States. This second edition has been thoroughly updated and revised. In addition to updated examples, this edition presents a more systematic treatment of public policy implications. It features added advanced sections, with analytical treatment of ideas previously presented verbally; and exercises, which allow for a deeper and more formal understanding of each topic. The new edition also includes an introduction to such empirical methods as demand estimation and equilibrium identification. Supplemental material is available online.
