Can you suggest a better game theory than Cournot, Stackelberg and Bertrand? The Cournot Model: what happens when two firms compete simultaneously on the quantity of output they produce of a homogeneous good. The Stackelberg Model: what happens when two firms compete sequentially on the quantity of output they produce of a homogeneous good. The Bertrand Model: what happens when two firms compete simultaneously on the price of a homogenous good.
Can you suggest a better game theory than Cournot, Stackelberg and Bertrand? The Cournot Model: what happens when two firms compete simultaneously on the quantity of output they produce of a homogeneous good. The Stackelberg Model: what happens when two firms compete sequentially on the quantity of output they produce of a homogeneous good. The Bertrand Model: what happens when two firms compete simultaneously on the price of a homogenous good.
Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Chapter13: best-practice Tactics: Game Theory
Section: Chapter Questions
Problem 12E
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Can you suggest a better game theory than Cournot, Stackelberg and Bertrand?
The Cournot Model: what happens when two firms compete simultaneously on the quantity of output they produce of a homogeneous good.
The Stackelberg Model: what happens when two firms compete sequentially on the quantity of output they produce of a homogeneous good.
The Bertrand Model: what happens when two firms compete simultaneously on the price of a homogenous good.
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