Testing for market power using a dynamic oligopoly model

Article Abstract:

T.F. Breshanan and L.J. Lau presented an oligopoly model in 1982 for the purpose of determining the market power through the utilization of aggregated industry data. In 1999, the Breshanan-Lau (BL) model was reformulated in an error correcting framework which provided a solution to both statistical problems generated by short-run dynamics and incorporation of significant dynamic factors such as adjustment costs and habit formation. In the model, the potential market power of Norway's salmon industry was analyzed. It was shown that Norway had some market power in the short-run.

Finfish, Salmon, Finfish Fishing, Market Research, Market share, Norway, Fish industry, Fisheries

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Quantity-setting oligopoly with endogenous sequencing

Article Abstract:

A model was developed to explain the endogenous sequencing of the oligopoly theory depicted in the Cournot, Stackelberg and Hamilton and Slutsky models. It was hypothesized that the equilibrium outcome relied on the sequence of the firm's decisions or actions, either at the same or different times. The model's formula centered on a n-firm, m-period oligopoly game where both m and n are greater than one. It was revealed that the equilibrium outcome was either Cournot-type or joint leadership but not a Stackelberg outcome which was absent in an equilibrium.

Equilibrium (Economics)

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Evolution to equilibrium in an asymmetric oligopoly with differentiated goods

Article Abstract:

Research is presented concerning the development of a model of evolution which includes stochastically stable states and evolutionary stable strategies for low- and high-cost business enterprises.

Prices, Stochastic systems, Finite groups

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