|
|
Cournot competition |
|
|
|
 Home Site Map Add Term Search About Us Contributors |
Cournot competitionThe assumption, assumed to be made by firms in an oligopoly, that other firms hold their outputs constant as they themselves change behavior. Contrasts with Bertrand competition. Both are used in models of international oligopoly, but Cournot competition is used more often.Similar MatchesPerfect competitionPerfect competitionAn idealized market structure in which there are large numbers of both buyers and sellers, all of them small, so that they act as price takers. Perfect competition also assumes homogeneous products, free entry and exit, and complete information. Most international trade theory prior to the New Trade Theory assumed perfect competition. In competitionIn competitionIndication that the customer has revealed trading interest to multiple brokers and that the trade will take place with the firm having the highest bid or lowest offer. Antithesis of exclusive. Perfect competitionPerfect competitionAn idealized market environment in which every market participant is too small to affect the market price by acting on its own. Monopolistic competitionMonopolistic competitionA market structure in which there are many sellers each producing a differentiated product. Each can set its own price and quantity, but is too small for that to matter for prices and quantities of other producers in the industry. Competition aheadCompetition aheadOften used in risk arbitrage. Situation whereby another OTC market maker has transacted with investment bank at the stated market level before the bid/offer has been made. Further SuggestionsCompetitionCompetition Imperfect competition Bertrand competition Competition policy |
|
|
|