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Price and Output Comparison under Alternative Duopoly Structures

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Author Info
Jim Y. Jin
Tatiana Damjanovic
Osiris J.Parcero

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Abstract

Duopoly competition can take different forms: Bertrand, Cournot, Bertrand-Stackelberg, Cournot-Stackelberg and joint profit maximization. In this paper we find a clear price ranking among these five markets when goods are substitutes and an output ranking when goods are complements. Moreover, the ranking can be explained by different levels of conjectural variation associated with those markets.

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Publisher Info
Paper provided by Centre for Research into Industry, Enterprise, Finance and the Firm in its series CRIEFF Discussion Papers with number 0516.

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Date of creation: Sep 2005
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Handle: RePEc:san:crieff:0516

Contact details of provider:
Postal: School of Economics and Finance, University of St. Andrews, Fife KY16 9AL
Phone: 01334 462420
Web page: http://www.st-and.ac.uk/%7Ewww_crieff/discpaps.html

For technical questions regarding this item, or to correct its listing, contact: (Tatiana Damjanovic).

Related research
Keywords: Bertrand; Cournot; Stackelberg; monopoly; ranking; conjectural variation;

Find related papers by JEL classification:
L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
L13 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Oligopoly and Other Imperfect Markets
D43 - Microeconomics - - Market Structure and Pricing - - - Oligopoly and Other Forms of Market Imperfection

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References listed on IDEAS
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  1. Nirvikar Singh & Xavier Vives, 1984. "Price and Quantity Competition in a Differentiated Duopoly," RAND Journal of Economics, The RAND Corporation, vol. 15(4), pages 546-554, Winter. [Downloadable!] (restricted)
  2. Hathaway, Neville J. & Rickard, John A., 1979. "Equilibria of price-setting and quantity-setting duopolies," Economics Letters, Elsevier, vol. 3(2), pages 133-137. [Downloadable!] (restricted)
  3. Okuguchi, Koji, 1987. "Equilibrium prices in the Bertrand and Cournot oligopolies," Journal of Economic Theory, Elsevier, vol. 42(1), pages 128-139, June. [Downloadable!] (restricted)
  4. Leonard Cheng, 1985. "Comparing Bertrand and Cournot Equilibria: A Geometric Approach," RAND Journal of Economics, The RAND Corporation, vol. 16(1), pages 146-152, Spring. [Downloadable!] (restricted)
  5. Vives, Xavier, 1985. "On the efficiency of Bertrand and Cournot equilibria with product differentation," Journal of Economic Theory, Elsevier, vol. 36(1), pages 166-175, June. [Downloadable!] (restricted)
  6. Amir, Rabah & Jin, Jim Y., 2001. "Cournot and Bertrand equilibria compared: substitutability, complementarity and concavity," International Journal of Industrial Organization, Elsevier, vol. 19(3-4), pages 303-317, March. [Downloadable!] (restricted)
  7. Dastidar, Krishnendu Ghosh, 2004. "On Stackelberg games in a homogeneous product market," European Economic Review, Elsevier, vol. 48(3), pages 549-562, June. [Downloadable!] (restricted)
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