Constant Best-Response Functions: Interpreting Cournot
AbstractFollowing Amir and Grilo (1999), we characterize a class of demand functions that generate constant quantity best-response functions. We examine implications of constant best-response functions for the invariance of equilibrium outcomes with respect to the assumed market structure of quantity games. We argue that, unlike the class of linear demand functions, this class of demand functions supports the pure interpretation of Cournot conjectures.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by College of Business, and College of Finance, Feng Chia University, Taichung, Taiwan in its journal International Journal of Business and Economics.
Volume (Year): 8 (2009)
Issue (Month): 1 (April)
constant best-response functions; Cournot equilibrium; Cournot conjectures; Stackelberg equilibrium;
Find related papers by JEL classification:
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
- D43 - Microeconomics - - Market Structure and Pricing - - - Oligopoly and Other Forms of Market Imperfection
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Martin J. Osborne & Ariel Rubinstein, 1994.
"A Course in Game Theory,"
MIT Press Books,
The MIT Press,
edition 1, volume 1, number 0262650401, December.
- David R. Kamerschen, 2009. "The Economic Effect of the Graying of the Population," International Journal of Business and Economics, College of Business, and College of Finance, Feng Chia University, Taichung, Taiwan, vol. 8(1), pages 87-89, April.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Yi-Ju Su).
If references are entirely missing, you can add them using this form.