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Old Ends - New Means
 Previously published in hardcover
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Focusing on classical oligopoly theory from 1840-1940, this volume uses topology and numerics to reconsider work by early oligopoly researchers in the light of modern dynamics. It resuscitates some of the field's original ideas after decades of oblivion.
Introduction.- Cournot Oligopoly.- Duopoly and Complex Dynamics.- Stackelberg Leadership.- Capacity Limits.- Multistability.- The Hotelling Paradox.
The book focuses classical oligopoly theory as developed in 1840-1940. By the end of this period oligopoly came under the spell of game theory in its probabilistic equilibrium format. Work by Cournot, von Stackelberg, Palander, and Hotelling, causal and dynamic in essence, but ignored, is reconsidered in the light of modern dynamics using topology and numerics. As particular features, von Stackelberg leadership is included in the dynamic Cournot model, the Hotelling problem is solved with elastic demand, thus skipping the absurd idea of quadratic transportation costs. Further, it is shown that the celebrated destabilisation of Cournot equilibrium under increased competition is due to mistakenly assuming constant returns, and that the whole idea of rational expectations is untenable in dynamic oligopoly. Early original ideas in oligopoly theory, such as coexistence and multiplicity of attractors are focused again after many undeserved decades of oblivion.

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    complex dynamics; Iterated Maps; Oligopoly Theory


Autor: Tönu Puu
ISBN-13: 9783642423550
ISBN: 3642423558
Einband: Previously published in hardcover
Seiten: 184
Gewicht: 287 g
Format: 235x155x10 mm
Sprache: Englisch

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Autor: Tönu Puu
ISBN-13:: 9783642423550
ISBN: 3642423558
Erscheinungsjahr: 14.10.2014
Verlag: Springer Berlin Heidelberg
Gewicht: 287g
Seiten: 184
Sprache: Englisch
Auflage 2011
Sonstiges: Taschenbuch, 235x155x10 mm