Devon Gorry, John Gilbert
Abstract
In this sheet we extend the basic Cournot duopoly to a case where the firms produce differentiated goods. The contruction is described along with potential exercises in Devon Gorry and John Gilbert "Numerical Simulations of Competition in Quantities" (International Review of Economics Education).
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In this sheet we extend the basic Cournot duopoly to a case where the firms produce differentiated goods. The contruction is described along with potential exercises in Devon Gorry and John Gilbert "Numerical Simulations of Competition in Quantities" (International Review of Economics Education).
Key concepts: Cournot competition, Duopoly, Product differentiation, Competition (biology), Economics, Microeconomics, Product (mathematics), Bertrand competition