Non-collusive Oligopoly

A. Koutsoyiannis
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A. Koutsoyiannis: University of Waterloo

Chapter 9 in Modern Microeconomics, 1975, pp 216-236 from Palgrave Macmillan

Abstract: Abstract In this section we will first present three models of duopoly, which is the limiting case of oligopoly. The common characteristic of these models is that they assume a certain pattern of reaction of competitors in each period and despite the fact that the ‘expected’ reaction does not in fact materialise, the firms continue to assume that the initial assumption holds. In other words, firms are assumed never to learn from past experience, which makes their behaviour at least naïve (if not stupid).

Keywords: Demand Curve; Reaction Function; Monopoly Price; Reaction Curve; Oligopolistic Market (search for similar items in EconPapers)
Date: 1975
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DOI: 10.1007/978-1-349-15603-0_9

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