Please note: In order to keep Hive up to date and provide users with the best features, we are no longer able to fully support Internet Explorer. The site is still available to you, however some sections of the site may appear broken. We would encourage you to move to a more modern browser like Firefox, Edge or Chrome in order to experience the site fully.

Supporting your high street Find out how »
Oligopoly : Old Ends - New Means, Paperback / softback Book

Oligopoly : Old Ends - New Means Paperback / softback

Paperback / softback

Description

The book focuses classical oligopoly theory as developed in 1840-1940.

By the end of this period oligopoly came under the spell of game theory in its probabilistic equilibrium format.

Work by Cournot, von Stackelberg, Palander, and Hotelling, causal and dynamic in essence, but ignored, is reconsidered in the light of modern dynamics using topology and numerics.

As particular features, von Stackelberg leadership is included in the dynamic Cournot model, the Hotelling problem is solved with elastic demand, thus skipping the absurd idea of quadratic transportation costs.

Further, it is shown that the celebrated destabilisation of Cournot equilibrium under increased competition is due to mistakenly assuming constant returns, and that the whole idea of rational expectations is untenable in dynamic oligopoly.

Early original ideas in oligopoly theory, such as coexistence and multiplicity of attractors are focused again after many undeserved decades of oblivion.

Information

Other Formats

£99.99

£81.69

Item not Available
 
Free Home Delivery

on all orders

 
Pick up orders

from local bookshops

Also by Toenu Puu   |  View all