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Quantity-setting games with a dominant firm

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  • Tasnádi, Attila

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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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 13612.

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Date of creation: 24 Feb 2009
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Handle: RePEc:pra:mprapa:13612

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Keywords: Forchheimer; Dominant firm; Price leadership;

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  1. Daughety, Andrew F, 1990. "Beneficial Concentration," American Economic Review, American Economic Association, vol. 80(5), pages 1231-37, December.
  2. Federico Etro, 2007. "Stackelberg competition with endogenous entry," Working Papers, University of Milano-Bicocca, Department of Economics 121, University of Milano-Bicocca, Department of Economics, revised 2007.
  3. Tasnadi, Attila, 2004. "On Forchheimer's model of dominant firm price leadership," Economics Letters, Elsevier, vol. 84(2), pages 275-279, August.
  4. Ono, Yoshiyasu, 1982. "Price Leadership: A Theoretical Analysis," Economica, London School of Economics and Political Science, London School of Economics and Political Science, vol. 49(193), pages 11-20, February.
  5. Raymond Deneckere & Dan Kovenock, 1988. "Price Leadership," Discussion Papers, Northwestern University, Center for Mathematical Studies in Economics and Management Science 773, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  6. Novshek, William., 1983. "Perfectly Competitive Markets as the Limits of Cournot Markets," Working Papers, California Institute of Technology, Division of the Humanities and Social Sciences 499, California Institute of Technology, Division of the Humanities and Social Sciences.
  7. Hamilton, Jonathan H. & Slutsky, Steven M., 1990. "Endogenous timing in duopoly games: Stackelberg or cournot equilibria," Games and Economic Behavior, Elsevier, vol. 2(1), pages 29-46, March.
  8. 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.
  9. Tasnadi, Attila, 2000. "A price-setting game with a nonatomic fringe," Economics Letters, Elsevier, vol. 69(1), pages 63-69, October.
  10. 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.
  11. 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.
  12. Christophe Caron & Thierry Lafay, 2008. "How Risk Disciplines Pre-Commitment," Theory and Decision, Springer, vol. 65(3), pages 205-226, November.
  13. 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.
  14. 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.
  15. Matsumura, Toshihiro, 1999. "Quantity-setting oligopoly with endogenous sequencing," International Journal of Industrial Organization, Elsevier, vol. 17(2), pages 289-296, February.
  16. 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.
  17. Ruffin, R J, 1971. "Cournot Oligopoly and Competitive Behaviour," Review of Economic Studies, Wiley Blackwell, Wiley Blackwell, vol. 38(116), pages 493-502, October.
  18. 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.
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  20. Tesoriere, Antonio, 2008. "Endogenous timing with infinitely many firms," International Journal of Industrial Organization, Elsevier, vol. 26(6), pages 1381-1388, November.
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Cited by:
  1. Kresimir Zigic, 2008. "Stackelberg Leadership with Product Differentiation and Endogenous Entry: Some Comparative Static and Limiting Results," CERGE-EI Working Papers wp369, The Center for Economic Research and Graduate Education - Economic Institute, Prague.
  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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