Quantity Precommitments and Bertrand's Competition Yield Cournot Outcomes

Article Abstract:

Bertrand's model of oligopoly is extended to consider competition over prices. Outcome to oligopoly games depends on strategic variables employed by firms and the context under which the variables are employed. Timing of decisions is as important as the decisions themselves. The outcome is the Cournot outcome.

Competition (Economics)

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Quality and Quantity Competition

Article Abstract:

An oligopoly model of quantity and quality controlled endogenously is developed. Market entry reduces quality and welfare if consumers are evenly dispersed. If consumers are not uniform, multiple symmetric equilibria occurs.

Marketing, Marketing models

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The Rate of Return Regulated Firm: Cost and Production Quality

Article Abstract:

Rate of return regulated industry faces a duality between cost and production. Characterization of production technology is facilitated. The production function is identified.

Laws, regulations and rules, Prices and rates, Profit, Profits, Mathematical analysis

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