A Short Paper of Mine
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In game theory, there are many ways to model an oligopoly market.
- Cournot's model of quantity competition (1803) leads to a result
between perfectly competitive pricing and monopoly pricing,
because each firm is a "residual monopolist".
- Bertrand's model of price competition (1887) leads to the result
of perfectly competitive pricing because of extreme price
elasticity.
- "Kinked demand curve" model supports any outcome, but isn't very
"rational".
- Price and quantity games.
My paper is about choosing a good model.
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