Abstract
Oligopoly theory is concerned with market structures in which the actions of individual firms affect and are affected by the actions of other firms. Unlike the polar cases of perfect competition and monopoly, strategic issues are fundamental to the study of such markets. In this entry we will explain some of the central themes of oligopoly theory, both modern and classical, and emphasize the connection between these themes and developments in the noncooperative theory of games.
This chapter was originally published in The New Palgrave: A Dictionary of Economics, 1st edition, 1987. Edited by John Eatwell, Murray Milgate and Peter Newman
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Sonnenschein, H. (1987). Oligopoly and Game Theory. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95121-5_1890-1
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DOI: https://doi.org/10.1057/978-1-349-95121-5_1890-1
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