The Isolated Firm and Consumer Benchmarking of Measurable Characteristics

Robert E. Kuenne
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Robert E. Kuenne: Princeton University

Chapter 8 in Price and Nonprice Rivalry in Oligopoly, 1998, pp 177-219 from Palgrave Macmillan

Abstract: Abstract In this chapter we develop a framework within which characteristics choices can be incorporated with price/output decisions and solved through the use of closed and simulation analysis when cardinal measurement of characteristics is appropriate. The characteristics discussed are “core qualitie” in the sense discussed in Chapters 1 and 2. In this chapter the firm is considered in isolation from rivals under the assumption that it produces a differentiated product but treats other firms’ prices as parameters and anticipates no feedback from them as it makes its decisions. Such analysis would be most appropriate in dominant firm oligopoly. Interactive competition within an oligopolistic context will be dealt with in Chapter 9, but the current chapter will establish a base for that more difficult modeling.

Keywords: Base Case; Reaction Function; Policy Variable; Marginal Revenue; Warranty Period (search for similar items in EconPapers)
Date: 1998
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-50371-7_8

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DOI: 10.1007/978-0-230-50371-7_8

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