Cournot competition ≈ Cournot competition
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The Oligopoly of Academic Publishers in the Digital Era Open
The consolidation of the scientific publishing industry has been the topic of much debate within and outside the scientific community, especially in relation to major publishers' high profit margins. However, the share of scientific output…
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Artificial Intelligence, Algorithmic Pricing, and Collusion Open
Increasingly, algorithms are supplanting human decision-makers in pricing goods and services. To analyze the possible consequences, we study experimentally the behavior of algorithms powered by Artificial Intelligence (Q-learning) in a wor…
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Overlapping Ownership, R&D Spillovers, and Antitrust Policy Open
This paper considers cost-reducing R&D investment with spillovers in a Cournot oligopoly with overlapping ownership. We show that overlapping ownership leads to internalization of rivals’ profits by firms and find that, for demand not too …
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International Trade in General Oligopolistic Equilibrium Open
This paper presents a new model of oligopoly in general equilibrium and explores its implications for positive and normative aspects of international trade. Assuming “continuum–Pollak” preferences, the model allows for consistent aggregati…
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“Nash-in-Nash” Bargaining: A Microfoundation for Applied Work Open
A "Nash equilibrium in Nash bargains" has become a workhorse bargaining model in applied analyses of bilateral oligopoly. This paper proposes a noncooperative foundation for "Nash-in-Nash" bargaining that extends Rubinstein's alternating o…
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Biological trade and markets Open
Cooperation between organisms can often be understood, like trade between merchants, as a mutually beneficial exchange of services, resources or other ‘commodities’. Mutual benefits alone, however, are not sufficient to explain the evoluti…
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An equilibrium market power model for power markets and tradable green certificates, including Kirchhoff's Laws and Nash-Cournot competition Open
We investigate the economic impacts of introducing tradable green certificates to promote electricity produced from renewable energy sources. We formulate a mixed complementarity, multi-region, partial equilibrium model, clearing both the …
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Asymmetric Information and Middleman Margins: An Experiment with Indian Potato Farmers Open
West Bengal potato farmers cannot directly access wholesale markets and do not knowwholesale prices. Local middlemen earn large margins; pass-through from wholesale to farmgate prices is negligible. When we informed farmers in randomly cho…
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Government subsidies’ influence on corporate social responsibility of private firms in a competitive environment Open
Corporate involvement with social responsibility (CSR) is a voluntary practice. However, governments have recently adopted a more supportive stance by providing research and development support and tax exemptions. Therefore, this study exa…
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On Communication and Collusion Open
We study the role of communication within a cartel. Our analysis is carried out in Stigler’s (1964) model of repeated oligopoly with secret price cuts. Firms observe neither the prices nor the sales of their rivals. For a fixed discount fa…
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ON THE NOTION OF SPATIAL COMPETITION IN ECONOMICS Open
В статье рассматривается использование категории «пространственная конкуренция» в различных разделах экономической науки.Описывается появление первых исследований пространственной конкуренции в экономической теории, дальнейшее развитие в р…
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IMPACT OF CONSUMER PREFERENCE ON THE DECISION-MAKING OF PREFABRICATED BUILDING DEVELOPERS Open
Customers’ preferences for prefabricated building or conventional cast-in-situ building directly affect the decision-making process for strategic selection of building developers. This study utilizes a Hotelling model integrating game theo…
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Identification in Differentiated Products Markets Open
Empirical models of differentiated products demand (and often supply) are widely used in industrial organization and other fields of economics. We review some recent work studying identification in a broad class of such models. This work s…
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Coordinated Pricing Analysis with the Carbon Tax Scheme in a Supply Chain* Open
The carbon tax is a cost‐efficient scheme to curb emissions, and it has been implemented in Australia, British Columbia, and other places worldwide. We aim to analyze its effect on dynamic pricing in a supply chain with multiple suppliers …
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Corporate social responsibility, profits and welfare with managerial firms Open
This paper analyses the equilibrium outcomes in a duopoly market where firms follow corporate social responsibility (CSR) behaviours under managerial delegation. It is shown that in the subgame perfect Nash equilibrium of the game, both fi…
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Consumer information and the limits to competition Open
This paper studies competition between firms when consumers observe a private signal of their preferences over products. Within the class of signal structures that induce pure-strategy pricing equilibria, we derive signal structures that a…
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Territory, environment, and healthiness in traditional food choices: insights into consumer heterogeneity Open
Traditional foods are facing new market challenges tied to current trends in food habits and their determinants, such as the decline of domestic food preparation, the increased demand for convenience foods, the increasing importance of ind…
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Preferences, entry, and market structure Open
We provide a unified approach to imperfect (monopolistic, Bertrand, and Cournot) competition when preferences are symmetric over a finite but endogenous number of goods. Markups depend on the Morishima elasticity of substitution and on the…
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Impact of Social Interactions on Duopoly Competition with Quality Considerations Open
We study the impacts of social interactions on competing firms’ quality differentiation, pricing decisions, and profit performance. Two forms of social interactions are identified and analyzed: (1) market-expansion effect (MEE)—the total m…
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Environmental research joint ventures and time-consistent emission tax: Endogenous choice of R&D formation Open
This paper provides a new analytical framework of endogenous choice for environmental R&D formation. Furthermore, this paper presents an examination of environmental R&D of four types in a Cournot duopoly in a setting where a regulator has…
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Porter Hypothesis vs Pollution Haven Hypothesis: Can There Be Environmental Policies Getting Two Eggs in One Basket? Open
The Porter hypothesis and the pollution haven hypothesis seem to predict opposite reactions by firms facing environmental regulation, as the first invokes the arising of a win–win solution while the second envisages the possibility for fir…
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Common ownership, market power, and innovation Open
I examine the effects of overlapping ownership on market power when there are external effects across firms. This is done in an oligopoly model with cost-reducing innovation with technological spillovers where firms have an overlapping own…
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Capacity Choice in (Strategic) Real Options Models: A Survey Open
The theory of real options determines the optimal time to invest in a project of given size. As a main result, it is found that in a more uncertain environment, it is optimal for a firm to delay its investment. In other words, uncertainty …
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Complex Dynamics of a Continuous Bertrand Duopoly Game Model with Two-Stage Delay Open
This paper studies a continuous Bertrand duopoly game model with two-stage delay. Our aim is to investigate the influence of delay and weight on the complex dynamic characteristics of the system. We obtain the bifurcation point of the syst…
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Remarks on quantum duopoly schemes Open
The aim of this paper is to discuss in some detail the two different quantum schemes for duopoly problems. We investigate under what conditions one of the schemes is more reasonable than the other one. Using the Cournot's duopoly example, …
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A Distributed Algorithm For Almost-Nash Equilibria of Average Aggregative Games With Coupling Constraints Open
ISSN:2325-5870
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The relative efficacy of price announcements and express communication for collusion: Experimental findings Open
This study conducts experiments to determine the modes of communication that are able to produce and sustain collusion and how the efficacy of communication depends on market structure. Two communication treatments are considered: non-bind…
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Choice Complexity and Market Competition Open
Consumers often find it hard to make correct value comparisons between market alternatives. Part of this choice complexity is the result of deliberate obfuscation by firms. This review synthesizes a theoretical literature that analyzes the…
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Corporate social responsibility in a game-theoretic context Open
Using a simple Cournot duopoly model with differentiated products, this work studies the firms’ strategic choice of whether to adopt Corporate Social Responsibility (CSR) rules. The proposed game-theoretic approach shows that, depending on…
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Patterns of competitive interaction Open
We explore patterns of price competition in an oligopoly where consumers vary in the set of firms they consider for their purchase and buy from the lowest-priced firm they consider. We study a pattern of consideration, termed "symmetric in…