Dynamic Oligopoly in the Rice Export Market
Larry Karp and
The Review of Economics and Statistics, 1989, vol. 71, issue 3, 462-70
A linear-quadratic dynamic oligopoly model is used to estimate the competitiveness of the rice export market. The model nests various market structures using either open-loop or feedback strategies. The estimated feedback model implies a less competitive market structure than the estimated open-loop model. The rice export market is oligopolistic, but it is closer to competitive than collusive. Copyright 1989 by MIT Press.
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