Economics Dictionary of ArgumentsHome
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| Cournot Competition: Cournot Competition is a market model where firms compete by choosing output quantities rather than prices. Each firm assumes its rival’s output is fixed when deciding its own. The equilibrium occurs when no firm can increase profit by changing output alone. It typically applies to oligopolies with a small number of producers. See also Competition, Bertrand competition._____________Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments. | |||
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Victor D. Norman on Cournot Competition - Dictionary of Arguments
Krugman III 95 Cournot Competition/Victor D. Norman: To see whether our assumption(1) that the oligopoly equilibrium involves Bertrand price competition* is important, we also simulate the effects of entry assuming Cournot competition in the number of seats offered on each flight. >Cournot Competition, >Bertrand Competition, >Sensitivity analysis, >Models, >Economic models, >Model theory, >Equilibrium, >Oligopolies. Equilibrium: As is seen, the simulated equilibria are virtually identical, except as regards the degree of price discrimination between Euroclass and tourist-class passengers: As should be expected, Cournot competition (being less aggressive than Bertrand) involves greater price discrimination; consequently, the relative price of Euroclass tickets falls more in the case of Bertrand than in the Cournot case. 1.Victor D. Norman and Siri P. Strandenes. „Deregulation of Scandinavian Airlines: A Case Study of the Oslo-Stockholm Route.“ In: Paul Krugman and Alasdair Smith (Eds.) 1994. Empirical Studies of Strategic Trade Policy. Chicago: The University of Chicago Press. Victor D. Norman and Siri P. Strandenes. „Deregulation of Scandinavian Airlines: A Case Study of the Oslo-Stockholm Route.“ In: Paul Krugman and Alasdair Smith (Eds.) 1994. Empirical Studies of Strategic Trade Policy. Chicago: The University of Chicago Press._____________Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. Translations: Dictionary of Arguments The note [Concept/Author], [Author1]Vs[Author2] or [Author]Vs[term] resp. "problem:"/"solution:", "old:"/"new:" and "thesis:" is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition. |
Norman, Victor D. EconKrug I Paul Krugman Volkswirtschaftslehre Stuttgart 2017 EconKrug II Paul Krugman Robin Wells Microeconomics New York 2014 Krugman III Paul Krugman Alasdair Smith Empirical Studies of Strategic Trade Policy Chicago: The University of Chicago Press 1994 |
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