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Competitive StrategyOptions and Games$
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Benoît Chevalier-Roignant and Lenos Trigeorgis

Print publication date: 2011

Print ISBN-13: 9780262015998

Published to MIT Press Scholarship Online: August 2013

DOI: 10.7551/mitpress/9780262015998.001.0001

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Market Structure Games: Static Approaches

Market Structure Games: Static Approaches

(p.75) 3 Market Structure Games: Static Approaches
Competitive Strategy

Benoît Chevalier-Roignant

Lenos Trigeorgis

The MIT Press

This chapter discusses static market structure games. It begins by describing the benchmark case of a monopolist, developing the basic building blocks for subsequent models. It then introduces static models of duopoly, presenting first the case of Bertrand price competition and then discussing the classic Cournot quantity duopoly model. Next, it extends the standard Cournot quantity competition analysis to accommodate a larger number of firms in oligopoly, obtaining the market equilibrium in perfect competition as a polar case. Finally, it explores the impact of incomplete information on market structure in a duopoly.

Keywords:   static models, monopoly, duopoly, Bertrand price competition, Cournot quantity competition, perfect competition, oligopoly, incomplete information

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