2005•Pacific Economic ReviewOpen access

CHANGES IN DEMAND FUNCTION IN COURNOT OLIGOPOLY

Koji Okuguchi, Ferenc Szidarovszky

Abstract

Abstract. The effects of change in the market (inverse) demand function are systematically analysed for Cournot oligopoly without product differentiation. The general comparative‐static results are stated using the original data on firms’ cost functions and inverse demand function. Three special models are examined in light of our results. The stability condition is shown to be insufficient for determinate comparative statics.

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Key concepts: Inverse demand function, Cournot competition, Comparative statics, Oligopoly, Demand curve, Economics, Function (biology), Product differentiation