Chapter twenty-Seven Oligopoly 寡头垄断
Chapter Twenty-Seven Oligopoly 寡头垄断
Structure Non-collusive moves Simultaneous moves Quantity competition -Cournot model Price competition Bertrand model Sequential moves Quantity leadership- Stakelberg model Price leadership Collusion
Structure Non-collusive moves – Simultaneous moves Quantity competition –Cournot model Price competition – Bertrand model – Sequential moves Quantity leadership – Stakelberg model Price leadership Collusion
Oligopoly A monopoly is an industry consisting a single firm a duopoly is an industry consisting of two firms An oligopoly is an industry consisting of a few firms. Particularly, each firm's own price or output decisions affect its competitors'profits
Oligopoly A monopoly is an industry consisting a single firm. A duopoly is an industry consisting of two firms. An oligopoly is an industry consisting of a few firms. Particularly, each firm’s own price or output decisions affect its competitors’ profits
Oligopoly How do we analyze markets in which the supplying industry is oligopolistic? Consider the duopolistic case of two firms supplying the same product
Oligopoly How do we analyze markets in which the supplying industry is oligopolistic? Consider the duopolistic case of two firms supplying the same product
Quantity Competition Assume that firms compete by choosing output levels If firm 1 produces y, units and firm 2 produces y2 units then total quantity supplied is y1+ y2. The market price will be p(y,+ y2) The firms total cost functions are C,, and c2y2)
Quantity Competition Assume that firms compete by choosing output levels. If firm 1 produces y1 units and firm 2 produces y2 units then total quantity supplied is y1 + y2 . The market price will be p(y1+ y2 ). The firms’ total cost functions are c1 (y1 ) and c2 (y2 )