Cost Arrangement and Welfare in a Multi-Product Cournot Oligopoly
Welfare in a two-product Cournot oligopoly is shown to increase (decrease) with an increase in correlation between unit costs when the outputs complement (substitute) in demand. A more qualified correlation structure is required for the result to apply in a three-product Cournot oligopoly when products complement in demand.
|Date of creation:||23 Oct 2004|
|Contact details of provider:|| Postal: Iowa State University, Dept. of Economics, 260 Heady Hall, Ames, IA 50011-1070|
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CIRANO Working Papers
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- Harvey E. Lapan & David A. Hennessy, 2002.
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- David A. Hennessy & Harvey E. Lapan, 2003. "A Definition of 'More Systematic Risk' with Some Welfare Implications," Economica, London School of Economics and Political Science, vol. 70(279), pages 493-507, 08.
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