Explain ‘conjectural variation’ in Cournot duopoly, evaluate its impacts and discuss the policy implication
Niall Douglas
MPRA Paper from University Library of Munich, Germany
Abstract:
To fully understand the impacts and policy implications of conjectural variation, one must first understand the part it played in the great indeterminacy debate within marginal economics during the first half of the 20th century. Therefore, this paper shall begin with a short description and history of conjectural variation, followed by how the debates surrounding it led to the final resolution of the indeterminacy issue. The policy implications of that resolution for imperfect markets are then briefly discussed.
Keywords: indeterminancy; conjectural variation; Walrasian general equilibrium; uncertainty; Sonnenshein-Mantel-Debreu; asymmetric information; post-autistic economics (search for similar items in EconPapers)
JEL-codes: D43 D5 (search for similar items in EconPapers)
Date: 2006-12
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:13652
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