کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
7358557 1478654 2018 20 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Oligopoly game: Price makers meet price takers
موضوعات مرتبط
مهندسی و علوم پایه ریاضیات کنترل و بهینه سازی
پیش نمایش صفحه اول مقاله
Oligopoly game: Price makers meet price takers
چکیده انگلیسی
The paper studies an oligopoly game, where firms can choose between price-taking and price-making strategies. On a mixed market price takers are always better off than price makers, though the profits of both types decline in the number of price takers. We investigate and confront two possibilities of firms' decisions about their types: forward-looking equilibrium reasoning and backward-looking individual learning. We find that the Cournot outcome is the only equilibrium prediction and it is learnable if firms are sufficiently sensitive to profit differences. However, with a larger number of firms, a unilateral deviation from Cournot behavior becomes profitable. Under learning this incentive creates a space for permanent oscillations over different markets with a positive but low number of price takers.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Economic Dynamics and Control - Volume 91, June 2018, Pages 84-103
نویسندگان
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