CRIEFF Discussion Paper Number 0516

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Price and Output Comparison under Alternative Duopoly Structures.

Jim Jin (University of St Andrews) Tatiana Damjanovic (University of St Andrews) and Osiris J. Parcero (University of St Andrews)

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Abstract
Duopoly competition can take different forms: Bertrand, Cournot, Bertrand-Stackelberg, Cournot-Stackelberg and joint profit maximization. In this paper we find a clear price ranking among these five markets when goods are substitutes and an output ranking when goods are complements. Moreover, the ranking can be explained by different levels of conjectural variation associated with those markets.

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JEL Classifications
L11; L13; D43

Keywords
Bertrand, Cournot, Stackelberg, monopoly, ranking, conjectural variation

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