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Stackelberg, Cournot and Collusive Monopoly: Performance and Welfare Comparisons

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  • Levin, Dan

Abstract

This article compares and evaluates performance and welfare in three classical oligopoly models: Stackel berg leader, Cournot, and collusive monopoly. Hahn's stability condit ions render an unambiguous ranking of market price; the monopoly pric e is highest and the Stackelberg price is lowest. Welfare comparisons are less clear-cut due to additional effects coming from reallocatio n of outputs among sellers. Conditions under which these reallocation effects will enhance or offset the unambiguous price effects on welf are are discussed and examples are given. Possible implications for a ntitrust policy, regarding constraints on market share of large produ cers in noncompetitive markets, are examined. Copyright 1988 by Oxford University Press.

Suggested Citation

  • Levin, Dan, 1988. "Stackelberg, Cournot and Collusive Monopoly: Performance and Welfare Comparisons," Economic Inquiry, Western Economic Association International, vol. 26(2), pages 317-330, April.
  • Handle: RePEc:oup:ecinqu:v:26:y:1988:i:2:p:317-30
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    Cited by:

    1. Troy Tassier, 2013. "Handbook of Research on Complexity, by J. Barkley Rosser, Jr. and Edward Elgar," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 39(1), pages 132-133.
    2. Marco Marini & Giorgio Rodano, 2012. "Sequential vs Collusive Payoffs in Symmetric Duopoly Games," DIAG Technical Reports 2012-06, Department of Computer, Control and Management Engineering, Universita' degli Studi di Roma "La Sapienza".
    3. Antonio Doria, Francisco, 2011. "J.B. Rosser Jr. , Handbook of Research on Complexity, Edward Elgar, Cheltenham, UK--Northampton, MA, USA (2009) 436 + viii pp., index, ISBN 978 1 84542 089 5 (cased)," Journal of Economic Behavior & Organization, Elsevier, vol. 78(1-2), pages 196-204, April.

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