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  2. Cournot competition - Wikipedia

    en.wikipedia.org/wiki/Cournot_competition

    Cournot's model of competition is typically presented for the case of a duopoly market structure; the following example provides a straightforward analysis of the Cournot model for the case of Duopoly. Therefore, suppose we have a market consisting of only two firms which we will call firm 1 and firm 2.

  3. Duopoly - Wikipedia

    en.wikipedia.org/wiki/Duopoly

    A Cournot duopoly is a model of strategic interaction between two firms where they simultaneously choose their output levels, assuming the rival's output level is fixed. The firms compete on quantity, and each firm attempts to maximize its profit given the other firm's output level.

  4. Antoine Augustin Cournot - Wikipedia

    en.wikipedia.org/wiki/Antoine_Augustin_Cournot

    The Cournot duopoly model developed in his book also introduced the concept of a (pure strategy) Nash equilibrium, the reaction function and best-response dynamics. Cournot believed that economists must utilize the tools of mathematics only to establish probable limits and to express less stable facts in more absolute terms.

  5. Complementary monopoly - Wikipedia

    en.wikipedia.org/wiki/Complementary_monopoly

    The theory was originally proposed in the nineteenth century by Antoine Augustin Cournot. [1] This can be seen in private toll roads where more than one operator controls a different section of the road. The solution is for one agent to purchase all sections of the road. Complementary goods are a less extreme form of this effect. In this case ...

  6. Market structure - Wikipedia

    en.wikipedia.org/wiki/Market_structure

    Cournot quantity competition, one of the first models of oligopoly markets was developed by Augustin Cournot in 1835. In Cournot’s model, there are two firms and each firm selects a quantity to produce, and the resulting total output determines the market price. [9] Bertrand Price Competition, Joseph Bertrand was the first to analyze this ...

  7. Conjectural variation - Wikipedia

    en.wikipedia.org/wiki/Conjectural_variation

    For example, in the classic Cournot model of oligopoly, it is assumed that each firm treats the output of the other firms as given when it chooses its output. This is sometimes called the "Nash conjecture," as it underlies the standard Nash equilibrium concept.

  8. Cheap and deadly: Why vehicle terror attacks like the Bourbon ...

    www.aol.com/cheap-deadly-why-vehicle-terror...

    Experts say vehicle-based attacks are simple for a 'lone wolf' terrorist to plan and execute, and challenging for authorities to prevent.

  9. Auction theory - Wikipedia

    en.wikipedia.org/wiki/Auction_theory

    Non-cooperative games have a long history, beginning with Cournot's duopoly model. A 1994 Nobel Laureate for Economic Sciences, John Nash, [7] proved a general-existence theorem for non-cooperative games, which moves beyond simple zero-sum games. This theory was generalized by Vickrey (1961) to deal with the unobservable value of each buyer.