000			02169nam a2200277Ii 4500
008			761122s1976 wb b 00000 eng
020			_a0387080562
020			_a3540080562
040			_aDLC _cDLC
050	0		_aHD2731 _b.O38
082			_a338.523 _bOKU
100	1		_aOkuguchi, Koji,
245	1	0	_aExpectations and stability in oligopoly models /
260			_aBelin _bSpringer _c1976
300			_avi, 103 pages :
440			_aLecture notes in economics and mathematical systems
504			_aIncludes bibliographical references pages [99]-103.
520			_aEver since A.C.Cournot(1838), economists have been increasingly interested in oligopoly, a state of industry where firms producing homogeneous goods or close substitutes are limited in number. The fewness of firms in oligopoly gives rise to interdependence which they have to take into account in choosing their optimal output or pricing policies in each production period. Since each firm's profit is a function of all firms' outputs in an oligopoly without product differ entiation, each firm in choosing its optimal output in any period has to know beforehand all other rival firms' outputs in the same period. As this is in general impossible, it has to form some kind of expecta tion on other firms' most likely outputs. Cournot thought that in each period each firm assumed that all its rivals' outputs would remain at the same level as in the preceding period. Needless to say, the Cournot assumption is too naive to be realistically supported. However, the Cournot profit maximizing oligopoly model characterized by this assumption has many important and attractive properties from the view point of economic theory and provides a frame of reference for more realistic theories of oligopoly. In Chapters 1-3, we shall be engaged in analyzing the Cournot oligopoly model in greater detail from the viewpoints of existence, stability, uniqueness and quasi-competitive ness of the equilibrium.
590			_alje 25/04/17
591			_aLoans
650		0	_aOligopolies--Mathematical models
650		0	_aMathematics
650		0	_aEconomics
942			_2ddc _cBOOK
949			_a338.523 OKU
999			_c5381 _d5381