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A Model of Oligopoly

Hernán Vallejo

Documentos CEDE from Universidad de los Andes - CEDE

Abstract: This article builds a simple model of oligopoly and uses it to make a detailed characterization of the equilibrium prices; quantities; mark-ups; price elasticities of market demand; price elasticities of residual demand; and welfare, all in terms of the parameters of the model. This is done under five different conjectures -Collusion, Threat, Cournot, Stackelberg and Bertrand-. The results of the model are used do comparative statics.

Keywords: Oligopoly; Collusion; Threat; Cournot; Stackelberg; Bertrand; mark-up (search for similar items in EconPapers)
JEL-codes: C70 C71 D43 L13 (search for similar items in EconPapers)
Pages: 23
Date: 2021-07-27
New Economics Papers: this item is included in nep-com, nep-cwa, nep-gth, nep-ind, nep-isf and nep-ore
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