International Journal of Business and Economics Volume 9, No. 1 April​, 2010

Asymmetric Duopoly under Different Market Structures

Jim Y. Jin

School of Economics and Finance, University of St. Andrews, U.K.

Osiris J. Parcero

Economics Department, College of Business and Economics, United Arab Emirates University, U.A.E.

Abstract

When goods are substitutes (complements), we find a clear price (output) ranking across five duopoly markets, namely Cournot, Bertrand, Cournot-Stackelberg, Bertrand-Stackelberg, and joint profit maximization. We explain these rankings in terms of levels of conjectural variation.

Keywords：market comparison, price/output ranking, conjectural variation.

JEL Classifications：L11, L13, D43.

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