Douglas, Niall Edward (2006): Explain ‘conjectural variation’ in Cournot duopoly, evaluate its impacts and discuss the policy implication.
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To fully understand the impacts and policy implications of conjectural variation, one must first understand the part it played in the great indeterminacy debate within marginal economics during the first half of the 20th century. Therefore, this paper shall begin with a short description and history of conjectural variation, followed by how the debates surrounding it led to the final resolution of the indeterminacy issue. The policy implications of that resolution for imperfect markets are then briefly discussed.
|Item Type:||MPRA Paper|
|Original Title:||Explain ‘conjectural variation’ in Cournot duopoly, evaluate its impacts and discuss the policy implication|
|Keywords:||indeterminancy; conjectural variation; Walrasian general equilibrium; uncertainty; Sonnenshein-Mantel-Debreu; asymmetric information; post-autistic economics|
|Subjects:||D - Microeconomics > D5 - General Equilibrium and Disequilibrium
D - Microeconomics > D4 - Market Structure and Pricing > D43 - Oligopoly and Other Forms of Market Imperfection
|Depositing User:||Niall Douglas|
|Date Deposited:||27. Feb 2009 18:59|
|Last Modified:||15. Feb 2013 20:35|
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