Quantity Precommitments and Bertrand's Competition Yield Cournot Outcomes
Article Abstract:
Bertrand's model of oligopoly is extended to consider competition over prices. Outcome to oligopoly games depends on strategic variables employed by firms and the context under which the variables are employed. Timing of decisions is as important as the decisions themselves. The outcome is the Cournot outcome.
Publication Name: Bell Journal of Economics
Subject: Business, general
ISSN: 0361-915X
Year: 1983
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Quality and Quantity Competition
Article Abstract:
An oligopoly model of quantity and quality controlled endogenously is developed. Market entry reduces quality and welfare if consumers are evenly dispersed. If consumers are not uniform, multiple symmetric equilibria occurs.
Publication Name: Bell Journal of Economics
Subject: Business, general
ISSN: 0361-915X
Year: 1983
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The Rate of Return Regulated Firm: Cost and Production Quality
Article Abstract:
Rate of return regulated industry faces a duality between cost and production. Characterization of production technology is facilitated. The production function is identified.
Publication Name: Bell Journal of Economics
Subject: Business, general
ISSN: 0361-915X
Year: 1983
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