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Cost arrangement and welfare in a multi-product Cournot oligopoly

Author

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

Abstract

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., 2004. "Cost arrangement and welfare in a multi-product Cournot oligopoly," ISU General Staff Papers 200410230700001202, Iowa State University, Department of Economics.
    • Handle: RePEc:isu:genstf:200410230700001202
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    JEL classification:

    • C60 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - General
    • D43 - Microeconomics - - Market Structure, Pricing, and Design - - - Oligopoly and Other Forms of Market Imperfection

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