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Price-quantity competition with varying toughness

  • d’ASPREMONT, Claude
  • DOS SANTOS FERREIRA, Rodolphe

In order to formalize the variety of oligopolistic competition regimes, we adopt an approach (pioneered by Shubik, 1959) where firms behave strategically both in price and quantity. The corresponding concept of oligopolistic equilibriumallo ws for a parameterized continuum of regimes with varying competitive toughness. In particular, the Cournot and the competitive outcomes coincide, respectively, with the softest and the toughest oligopolistic equilibrium outcome. The set of all equilibrium outcomes are compared with those obtained in three alternative approaches, respectively based on pricing-schemes, conjecturalvariations and supply functions. Finally, we explore the possibility of endogenizing strategically the choice of competitive toughness by the firms.

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Paper provided by Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) in its series CORE Discussion Papers with number 2004088.

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Date of creation: 00 Dec 2004
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Handle: RePEc:cor:louvco:2004088
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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.
  2. Grossman, Sanford J, 1981. "Nash Equilibrium and the Industrial Organization of Markets with Large Fixed Costs," Econometrica, Econometric Society, vol. 49(5), pages 1149-72, September.
  3. Delgado, Juan & Moreno, Diego, 2004. "Coalition-proof supply function equilibria in oligopoly," Journal of Economic Theory, Elsevier, vol. 114(2), pages 231-254, February.
  4. d’ASPREMONT, Claude & DOS SANTOS FERREIRA, Rodolphe & GERARD-VARET, Louis-André, . "Strategic R&D investment, competitive toughness and growth," CORE Discussion Papers RP -2240, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  5. d’ASPREMONT, Claude & DOS SANTOS FERREIRA, Rodolphe & GERARD-VARET, Louis-André, . "Competition for market share or for market size: oligopolistic equilibria with varying competitive toughness," CORE Discussion Papers RP -1973, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  6. Cyert, Richard M & DeGroot, Morris H, 1973. "An Analysis of Cooperation and Learning in a Duopoly Context," American Economic Review, American Economic Association, vol. 63(1), pages 24-37, March.
  7. Boone, J., 2000. "Competitive pressure : The effects on investments in product and process innovation," Other publications TiSEM 88418185-7603-4c36-92fd-3, Tilburg University, School of Economics and Management.
  8. d'Aspremont, C & Ferreira, R Dos Santos & Gerard-Varet, L-A, 1991. "Pricing Schemes and Cournotian Equilibria," American Economic Review, American Economic Association, vol. 81(3), pages 666-73, June.
  9. Boone, Jan, 2001. "Intensity of competition and the incentive to innovate," International Journal of Industrial Organization, Elsevier, vol. 19(5), pages 705-726, April.
  10. repec:ner:tilbur:urn:nbn:nl:ui:12-84400 is not listed on IDEAS
  11. Dixit, Avinash K, 1986. "Comparative Statics for Oligopoly," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 27(1), pages 107-22, February.
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