BERTRAND AND HIERARCHICAL STACKELBERG OLIGOPOLIES WITH PRODUCT DIFFERENTIATION

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Author(s)

Abstract

A hierarchical Stackelberg model where firms' entry is sequential is formulated for price-adjusting oligopoly with product differentiation. The firms' equilibrium prices, outputs and profits are derived and compared in relationship to the order of the firms' entry into the market. These equilibrium values are also compared with those for the non-hierarchical Bertrand oligopoly where all firms' decisions are simultaneously made.

A hierarchical Stackelberg model where firms' entry is sequential is formulated for price-adjusting oligopoly with product differentiation. The firms' equilibrium prices, outputs and profits are derived and compared in relationship to the order of the firms' entry into the market. These equilibrium values are also compared with those for the non-hierarchical Bertrand oligopoly where all firms' decisions are simultaneously made.

Journal

  • Keio economic studies

    Keio economic studies 31(1), 75-80, 1994

    Keio University

Codes

  • NII Article ID (NAID)
    110000989843
  • NII NACSIS-CAT ID (NCID)
    AA00260492
  • Text Lang
    ENG
  • Article Type
    Journal Article
  • ISSN
    00229709
  • Data Source
    NII-ELS  IR 
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