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 is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Bibliography
Abreu, D. 1986. External equilibria of oligopolistic supergames. Journal of Economic Theory 39: 191–225.
Aumann, R.J., and L. Shapley. 1976. Long term competition – A game theoretic analysis. Unpublished manuscript.
Axelrod, R.M. 1984. The evolution of cooperation. New York: Basic Books.
Bertrand, J. 1883. Théorie mathématique de la richesse social. Journal des Savants 48: 499–508.
Cournot, A. 1838. Recherches sur les principes mathématiques de la théorie des richesses. Paris: Hachette. Trans. by N.T. Bacon as Researches into the mathematical principles of the theory of wealth. New York: Macmillan, 1927.
Friedman, J.W. 1971. A non-cooperative equilibrium of supergames. Review of Economic Studies 38: 1–12.
Friedman, J.W. 1977. Oligopoly and the theory of games. Amsterdam: North-Holland.
Fudenberg, D., and E. Maskin. 1986. The folk theorem in repeated games with discounting and with incomplete information. Econometrica 54: 533–554.
Novshek, W. 1980. Cournot equilibrium with free entry. Review of Economic Studies 47: 473–486.
Rubinstein, A. 1979. Equilibrium in supergames with the overtaking criterion. Journal of Economic Theory 21: 1–9.
Simon, L. 1984. Bertrand, the Cournot paradigm and the theory of perfect competition. Review of Economic Studies 51: 209–230.
von Stackelberg, H. 1934. Marktform und Gleichgewicht. Vienna: Springer.
Author information
Authors and Affiliations
Editor information
Copyright information
© 2018 Macmillan Publishers Ltd.
About this entry
Cite this entry
Sonnenschein, H. (2018). Oligopoly and Game Theory. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95189-5_1890
Download citation
DOI: https://doi.org/10.1057/978-1-349-95189-5_1890
Published:
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-95188-8
Online ISBN: 978-1-349-95189-5
eBook Packages: Economics and FinanceReference Module Humanities and Social SciencesReference Module Business, Economics and Social Sciences