Constant Best-Response Functions: Interpreting Cournot

Zivan Forshner and Oz Shy
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Zivan Forshner: Department of Economics, University of Haifa, Israel

International Journal of Business and Economics, 2009, vol. 8, issue 1, 1-6

Abstract: Following Amir and Grilo (1999), we characterize a class of demand functions that generate constant quantity best-response functions. We examine implications of constant best-response functions for the invariance of equilibrium outcomes with respect to the assumed market structure of quantity games. We argue that, unlike the class of linear demand functions, this class of demand functions supports the pure interpretation of Cournot conjectures.

Keywords: constant best-response functions; Cournot equilibrium; Cournot conjectures; Stackelberg equilibrium (search for similar items in EconPapers)
JEL-codes: C72 D43 (search for similar items in EconPapers)
Date: 2009
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Citations: View citations in EconPapers (2)

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