Accession Number : AD0754124

Title :   Information, Duopoly and Competitive Markets, A Sensitivity Analysis,

Corporate Author : YALE UNIV NEW HAVEN CONN COWLES FOUNDATION FOR RESEARCH IN ECONOMICS

Personal Author(s) : Shubik,Martin

Report Date : 29 NOV 1972

Pagination or Media Count : 33

Abstract : Implicit in the discussion of markets and competition are differing conditions on information as the number of competitors changes. In particular the market with many competitors has long been considered as an entity with relatively low levels of information. People react to the average market price and aggregate inventories. Personalities disappear each individual adjusts to the impersonal market that supplies him aggregate information. In contrast with the many person market, duopolistic behavior, bilateral monopoly bargaining and oligopolistic behavior in general appears to depend upon detailed information. The other individuals in the market cannot be safely regarded as part of an anonymous aggregate. Specific information about individuals may be of importance. The paper is devoted to exploring the variations of information conditions for an extremely simple set of duopoly models. (Author)

Descriptors :   (*ECONOMICS, MATHEMATICAL MODELS), GAME THEORY, BARGAINING, SENSITIVITY, COMMERCE, INVENTORY ANALYSIS, EQUILIBRIUM(PHYSIOLOGY), PRODUCTION

Subject Categories : Economics and Cost Analysis

Distribution Statement : APPROVED FOR PUBLIC RELEASE