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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