Abstract
The origins of theoretical models of oligopolistic behaviour date back to the appearance of simplified models of duopoly during the mid-nineteenth century. The best-known of such models was developed by Cournot1 who discusses a situation of rivalry between two proprietors of mineral springs each selling identical bottles of spring water. Cournot assumes for simplicity that there are no costs of production, and also that no additional sellers of spring water are permitted by the local authorities to set themselves up in competition.
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Notes and References
R. L. Hall and C. J. Hitch, Oxford Economic Papers (May 1939).
J. Simon, American Economic Review (Dec 1969).
See, for example, W. Hamburger, American Economic Review (May 1967) pp. 266–72.
See, J. Bain, Journal of Business (July 1960) pp. 197, and for a less extreme view see P. Maunder, Business economist (autumm 1971) p. 136
See, for example, R. F. Lanzillotti, Review of Economics and Statistics (Feb 1957) pp. 62–4.
J. W. Markham, American Economic Review (Dec 1951).
Maunder, Business Economist (autumn 1972) pp. 139–40 considers that it is extremely difficult to distinguish clearly between any two categories of price leadership.
Markham, American Economic Review (Dec 1957).
See Lanzillotti, Review of Economics and Statistics (Feb 1957), and
A. Oxenfeldt, American Economic Review (June 1952).
For further discussion of this topic see Maunder, Business Economist (autumn 1972)p. 135.
G. and P. Polanyi, Moorgate and Wall St Review (spring 1974) p. 42.
See also Markham, American Economic Review (Dec 1951) p. 899.
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© 1976 P. J. Curwen
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Curwen, P.J. (1976). Theoretical Models of Oligopolistic Behaviour. In: The Theory of the Firm. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-15645-0_7
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