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Cournot Oligopoly : Characterization and Applications - Andrew F. Daughety

Cournot Oligopoly

Characterization and Applications

By: Andrew F. Daughety (Editor)

Hardcover Published: 23rd March 2015
ISBN: 9780521361767
Number Of Pages: 452

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Celebrating the 150th anniversary of Cournot's work, which Mark Blaug has characterized as "..a book that for sheer originality and boldness of conception has no equal in the history of economics thought," this volume focuses on the properties and uses of Cournot's model of competition among the few. While there are many issues that Cournot explored in researches into the mathematical principles of the theory of wealth, the topic that he is most readily associated with--and which now is also enjoying a revival--is his model of oligopolistic interaction among firms. This revivial of interest in Cournot's model is due largely to increased emphasis by economists on capturing elements of imperfect competition and strategic behavior.

"For the professional economist who has not performed oligopoly theory research, it offers a good way to upgrade or renovate knowledge of oligopoly." James R. Marchand, The Southern Economic Journal

Preface
Introduction
Introduction, purpose, and overview
Background
Of the competition of producers Augustin Cournot
Review of Walras's ThTorie mathTmatique de la richesse sociale and Cournot's Reserches sur les principles mathTmatiques de la thTorie des richesses
Non-cooperative games
Examining Cournot's Model
On the existence of Cournot equilibrium
Collusive behavior in non-cooperative epsilon-equilibria of oligopolies with long but finite lives
A non-cooperative equilibrium for supergames
Reconsidering Cournot: the Cournot equilibrium is consistent
An experimental test of the consistent-conjectures hypothesis
Quantity precommitment and Bertrand competition yield Cournot outcomes
On the efficiency of Bertrand and Cournot equilibria with product differentiation
Price competition vs. quantity competition: the role of uncertainty
Applications
Cournot and Walras equilibrium
Duopoly information equilibrium: Cournot and Bertrand
Information transmission - Cournot and Bertrand equilibria
Uncertainty resolution, private information aggregation, and the Cournot competitive limit
Losses from horizontal merger: the effects of an exogenous change in industry structure on Cournot-Nash equilibrium
Delegation and the theory of the firm
A study of cartel stability: the Joint Executive Committee, 1880-1886
Oligopoly and financial structure: the limited liability effect
Table of Contents provided by Publisher. All Rights Reserved.

ISBN: 9780521361767
ISBN-10: 0521361761
Audience: Professional
Format: Hardcover
Language: English
Number Of Pages: 452
Published: 23rd March 2015
Publisher: Cambridge University Press
Country of Publication: GB
Dimensions (cm): 22.8 x 15.2  x 2.9
Weight (kg): 0.7