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A peek into a Pandora's box: Firm-level demand with price competition vs. quantity competition

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  • Kolberg, William

Abstract

An analytical method for inverting firm-level demand to obtain inverse demand while preserving the nature of the product is reviewed. Some simple numerical analysis then shows that inverse demand, compared with demand may be less price elastic, similar, or more price elastic as competition increases.

Suggested Citation

  • Kolberg, William, 2009. "A peek into a Pandora's box: Firm-level demand with price competition vs. quantity competition," Economics Letters, Elsevier, vol. 105(3), pages 242-246, December.
  • Handle: RePEc:eee:ecolet:v:105:y:2009:i:3:p:242-246
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    References listed on IDEAS

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    1. Koji Okuguchi, 2007. "Quasi-Competitive Cournot Oligopoly with Product Differentiation and Symmetric Firms," Review of Development Economics, Wiley Blackwell, vol. 11(2), pages 404-411, May.
    2. 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.
    3. Hackner, Jonas, 2000. "A Note on Price and Quantity Competition in Differentiated Oligopolies," Journal of Economic Theory, Elsevier, vol. 93(2), pages 233-239, August.
    4. 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.
    5. Cheng, Leonard, 1985. "Inverting systems of demand functions," Journal of Economic Theory, Elsevier, vol. 37(1), pages 202-210, October.
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