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Quantity-setting games with a dominant firm

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  • Attila Tasnádi

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Abstract

We consider a possible game-theoretic foundation of Forchheimer's model of dominant-firm price leadership based on quantity-setting games with one large firm and many small firms. If the large firm is the exogenously given first mover, we obtain Forchheimer's model. We also investigate whether the large firm can emerge as a first mover of a timing game.

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File URL: http://hdl.handle.net/10.1007/s00712-010-0108-5
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Bibliographic Info

Article provided by Springer in its journal Journal of Economics.

Volume (Year): 99 (2010)
Issue (Month): 3 (April)
Pages: 251-266

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Handle: RePEc:kap:jeczfn:v:99:y:2010:i:3:p:251-266

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Web page: http://www.springerlink.com/link.asp?id=108909

Related research

Keywords: Forchheimer; Dominant firm; Price leadership; D43; L13;

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  1. Stephen J. Rassenti & Bart J. Wilson, 2004. "How Applicable is the Dominant Firm Model of Price Leadership?," Experimental Economics, Springer, vol. 7(3), pages 271-288, October.
  2. Federico Etro, 2008. "Stackelberg Competition with Endogenous Entry," Economic Journal, Royal Economic Society, vol. 118(532), pages 1670-1697, October.
  3. Novshek, William, 1985. "Perfectly competitive markets as the limits of cournot markets," Journal of Economic Theory, Elsevier, vol. 35(1), pages 72-82, February.
  4. Robson, Arthur J, 1990. "Duopoly with Endogenous Strategic Timing: Stackelberg Regained," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 31(2), pages 263-74, May.
  5. Szidarovszky, F & Yakowitz, S, 1977. "A New Proof of the Existence and Uniqueness of the Cournot Equilibrium," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 18(3), pages 787-89, October.
  6. Daughety, Andrew F, 1990. "Beneficial Concentration," American Economic Review, American Economic Association, vol. 80(5), pages 1231-37, December.
  7. David M. Kreps & Jose A. Scheinkman, 1983. "Quantity Precommitment and Bertrand Competition Yield Cournot Outcomes," Bell Journal of Economics, The RAND Corporation, vol. 14(2), pages 326-337, Autumn.
  8. Raymond Deneckere & Dan Kovenock, 1988. "Price Leadership," Discussion Papers 773, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  9. Sadanand, Asha & Sadanand, Venkatraman, 1996. "Firm Scale and the Endogenous Timing of Entry: a Choice between Commitment and Flexibility," Journal of Economic Theory, Elsevier, vol. 70(2), pages 516-530, August.
  10. Jacqueline Morgan & Lina Mallozzi & Sjur D. Flåm, 2002. "A new look for Stackelberg-Cournot equilibria in oligopolistic markets," Economic Theory, Springer, vol. 20(1), pages 183-188.
  11. Hamilton, J.H. & Slutsky, S.M., 1988. "Endogenous Timing In Duopoly Games: Stackelberg Or Cournot Equilibria," Papers 88-4, Florida - College of Business Administration.
  12. Ono, Yoshiyasu, 1982. "Price Leadership: A Theoretical Analysis," Economica, London School of Economics and Political Science, vol. 49(193), pages 11-20, February.
  13. Ruffin, R J, 1971. "Cournot Oligopoly and Competitive Behaviour," Review of Economic Studies, Wiley Blackwell, vol. 38(116), pages 493-502, October.
  14. Anderson, Simon P. & Engers, Maxim, 1992. "Stackelberg versus Cournot oligopoly equilibrium," International Journal of Industrial Organization, Elsevier, vol. 10(1), pages 127-135, March.
  15. Tesoriere, Antonio, 2008. "Endogenous timing with infinitely many firms," International Journal of Industrial Organization, Elsevier, vol. 26(6), pages 1381-1388, November.
  16. Anderson, Simon P & Engers, Maxim, 1994. "Strategic Investment and Timing of Entry," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 35(4), pages 833-53, November.
  17. Tasnadi, Attila, 2004. "On Forchheimer's model of dominant firm price leadership," Economics Letters, Elsevier, vol. 84(2), pages 275-279, August.
  18. Christophe Caron & Thierry Lafay, 2008. "How Risk Disciplines Pre-Commitment," Theory and Decision, Springer, vol. 65(3), pages 205-226, November.
  19. Tasnadi, Attila, 2000. "A price-setting game with a nonatomic fringe," Economics Letters, Elsevier, vol. 69(1), pages 63-69, October.
  20. Matsumura, Toshihiro, 1999. "Quantity-setting oligopoly with endogenous sequencing," International Journal of Industrial Organization, Elsevier, vol. 17(2), pages 289-296, February.
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Citations

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Cited by:
  1. Krešimir Žigić, 2012. "Stackelberg leadership with product differentiation and endogenous entry: some comparative static and limiting results," Journal of Economics, Springer, vol. 106(3), pages 221-232, July.
  2. Federico Etro, 2010. "Endogenous market structures and antitrust policy," International Review of Economics, Springer, vol. 57(1), pages 9-45, March.
  3. Susumu Cato & Ryoko Oki, 2012. "Leaders and competitors," Journal of Economics, Springer, vol. 107(3), pages 239-255, November.

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