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Note on Cost Arrangement and Market Performance in a Multi-Product Cournot Oligopoly, A

Author

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  • Lapan, Harvey E.
  • Hennessy, David A.

Abstract

Model invariances have been used extensively to understand welfare and conduct consequences of firm heterogeneity in a one-product Cournot oligopoly. Nothing is known about the richer and more realistic context of firm heterogeneity in multi-product Cournot oligopoly. In this note, 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.

Suggested Citation

  • Lapan, Harvey E. & Hennessy, David A., 2006. "Note on Cost Arrangement and Market Performance in a Multi-Product Cournot Oligopoly, A," Staff General Research Papers Archive 12720, Iowa State University, Department of Economics.
    • Handle: RePEc:isu:genres:12720
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    Cited by:

    1. Lapan, Harvey E. & Hennessy, David A., 2007. "Unit Vs. Ad Valorem Taxes in Multi-Product Cournot Oligopoly," Staff General Research Papers Archive 12780, Iowa State University, Department of Economics.
    2. X. Wang & Jingang Zhao, 2010. "Why are firms sometimes unwilling to reduce costs?," Journal of Economics, Springer, vol. 101(2), pages 103-124, October.
    3. Wang, X. Henry & Zhao, Jingang, 2022. "Merger effects in asymmetric and differentiated Bertrand oligopolies," Mathematical Social Sciences, Elsevier, vol. 120(C), pages 37-49.
    4. Hennessy, David A. & Lapan, Harvey E., 2005. "Statistical Moments Analysis of Production and Profits in Multi-Product Cournot Oligopoly," Staff General Research Papers Archive 12471, Iowa State University, Department of Economics.
    5. Lapan, Harvey E. & Hennessy, David A., 2008. "Statistical moments analysis of production and welfare in multi-product Cournot oligopoly," International Journal of Industrial Organization, Elsevier, vol. 26(2), pages 598-606, March.

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