Cournot Competition
THE NEW PALGRAVE DICTIONARY OF ECONOMICS, 2nd Edition, Steven N. Durlauf and Lawrence E. Blume, eds., Palgrave Macmillan (Basingstoke and New York), Forthcoming
14 Pages Posted: 21 Nov 2006
Abstract
Cournot's 1838 model of strategic interaction between competing firms has become the primary workhorse for the analysis of imperfect competition, and shows up in a variety of fields, notably industrial organization and international trade. This entry begins with a tour of the basic Cournot model and its properties, touching on existence, uniqueness, stability, and efficiency; this discussion especially emphasizes considerations involved in using the Cournot model in multi-stage applications. A discussion of recent applications is provided as well as the URL for an extended bibliography of approximately 125 selected publications from 2001 through 2005.
Keywords: Cournot models, Cournot equilibrium, oligopoly, multi-stage models of competition, best-response functions
JEL Classification: D43
Suggested Citation: Suggested Citation
Do you have negative results from your research you’d like to share?
Recommended Papers
-
The Unilateral Incentives for Technology Transfers: Predation By Proxy
By Anthony Creane and Hideo Konishi
-
Market Competition, R&D and Firm Profits in Asymmetric Oligopoly
By Junichiro Ishida, Toshihiro Matsumura, ...
-
A Small Firm Leads to Curious Outcomes: Social Surplus, Consumer Surplus, and R&D Activities