On Stackelberg's oligopoly theory
Article Abstract:
Stackelberg's interpretation of the theory of oligopoly translates to the players playing a one-stage game with a Nash-Cournot equilibrium or the players entering a dynamic world wherein equilibrium depends on the difference between the objective and the background rationality. Stackelberg also made a lasting contribution by citing the role of the oligopolistic information structure in determining the outcome of the dynamic market process.
Publication Name: Journal of Economic Studies
Subject: Economics
ISSN: 0144-3585
Year: 1996
User Contributions:
Comment about this article or add new information about this topic:
An economic theory of leader choice in Stackelberg models
Article Abstract:
A lack of theoretical basis prevents the Stackelberg model from being used to describe market price determination. Its confinement to homogenous product markets is one of the setbacks characterizing the model. Research may be useful on the conditions for Pareto dominance of Stackelberg leadership models in differentiated product markets.
Publication Name: Journal of Economic Studies
Subject: Economics
ISSN: 0144-3585
Year: 1996
User Contributions:
Comment about this article or add new information about this topic:
Von Stackelberg's equilibria for Bertrand-Edgeworth duopoly with buyouts
Article Abstract:
A comparison of the Stackelberg model game with and without the buyout option reveals that the driving force is the buyout option. One has to pay importance to the monopoly-like consequences of having buying-out as a possible conjecture. The model includes two firms, engaged in Bertrand competition, selling a homogenous good.
Publication Name: Journal of Economic Studies
Subject: Economics
ISSN: 0144-3585
Year: 1996
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: A short sketch of Stackelberg's career. Economists and the social question: a study of the periodical literature in English
- Abstracts: Stock market volatility and the crash of 1987: evidence from six emerging markets. The gold standard: perfectly integrated world markets or slow adjustment of prices and interest rates?
- Abstracts: Developments in the economies of the European Union
- Abstracts: Equilibrium binding agreements. Mutual observability and the convergence of actions in a multi-person two-armed bandit model
- Abstracts: Bank portfolio composition and macroeconomic activity. Regulation can foster mergers, can mergers foster efficiency? The Italian case