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On the counter-cyclicality of prices and markups in a Cournot model of entry

Jose M. Plehn-Dujowich

Economics Letters, 2008, vol. 99, issue 2, 310-313

Abstract: We prove in a Cournot model that the price and markup are counter-cyclical due to changes in the extent of competition if the income effect is decreasing in the price, as occurs when preferences are homothetic or demand is isoelastic.

Date: 2008
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Handle: RePEc:eee:ecolet:v:99:y:2008:i:2:p:310-313