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Dispense del Prof. Filistrucchi per il corso magistrale di economia pubblica
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Oligopoly and Product Differentiation N. Doni and L.Filistrucchi University of Florence
Duopoly with homogeneous products Duopoly competition and product differentiation Discrete choice models Horizontal differentiation Vertical differentiation
Oligopoly and Product Differentiation N. Doni and L.Filistrucchi University of Florence
Duopoly with homogeneous products Introduction Price competition Quantity competition Duopoly competition and product differentiation Discrete choice models Horizontal differentiation Vertical differentiation
Duopoly with homogeneous products Introduction
P(q) = a − bq and Q(p) = a−b p; 2 firms with Ci (qi ) = cqi , ∀i = 1 , 2.
price competition (Bertrand model); quantity competition (Cournot model).
profit maximization; simultaneous choices; clearing market price.
Oligopoly and Product Differentiation N. Doni and L.Filistrucchi University of Florence
Duopoly with homogeneous products Introduction Price competition Quantity competition Duopoly competition and product differentiation Discrete choice models Horizontal differentiation Vertical differentiation
Duopoly with homogeneous products Introduction
P(q) = a − bq and Q(p) = a−b p; 2 firms with Ci (qi ) = cqi , ∀i = 1 , 2.
price competition (Bertrand model); quantity competition (Cournot model).
profit maximization; simultaneous choices; clearing market price.
Oligopoly and Product Differentiation N. Doni and L.Filistrucchi University of Florence
Duopoly with homogeneous products Introduction Price competition Quantity competition Duopoly competition and product differentiation Discrete choice models Horizontal differentiation Vertical differentiation
Duopoly with homogeneous products Introduction
P(q) = a − bq and Q(p) = a−b p; 2 firms with Ci (qi ) = cqi , ∀i = 1 , 2.
price competition (Bertrand model); quantity competition (Cournot model).
profit maximization; simultaneous choices; clearing market price.
Oligopoly and Product Differentiation N. Doni and L.Filistrucchi University of Florence
Duopoly with homogeneous products Introduction Price competition Quantity competition Duopoly competition and product differentiation Discrete choice models Horizontal differentiation Vertical differentiation
Duopoly with homogeneous products Introduction
P(q) = a − bq and Q(p) = a−b p; 2 firms with Ci (qi ) = cqi , ∀i = 1 , 2.
price competition (Bertrand model); quantity competition (Cournot model).
profit maximization; simultaneous choices; clearing market price.
Oligopoly and Product Differentiation N. Doni and L.Filistrucchi University of Florence
Duopoly with homogeneous products Introduction Price competition Quantity competition Duopoly competition and product differentiation Discrete choice models Horizontal differentiation Vertical differentiation
Duopoly with homogeneous products Introduction
P(q) = a − bq and Q(p) = a−b p; 2 firms with Ci (qi ) = cqi , ∀i = 1 , 2.
price competition (Bertrand model); quantity competition (Cournot model).
profit maximization; simultaneous choices; clearing market price.
Oligopoly and Product Differentiation N. Doni and L.Filistrucchi University of Florence
Duopoly with homogeneous products Introduction Price competition Quantity competition Duopoly competition and product differentiation Discrete choice models Horizontal differentiation Vertical differentiation
Duopoly with homogeneous products Introduction
P(q) = a − bq and Q(p) = a−b p; 2 firms with Ci (qi ) = cqi , ∀i = 1 , 2.
price competition (Bertrand model); quantity competition (Cournot model).
profit maximization; simultaneous choices; clearing market price.
Oligopoly and Product Differentiation N. Doni and L.Filistrucchi University of Florence
Duopoly with homogeneous products Introduction Price competition Quantity competition Duopoly competition and product differentiation Discrete choice models Horizontal differentiation Vertical differentiation
Duopoly with homogeneous products Introduction
P(q) = a − bq and Q(p) = a−b p; 2 firms with Ci (qi ) = cqi , ∀i = 1 , 2.
price competition (Bertrand model); quantity competition (Cournot model).
profit maximization; simultaneous choices; clearing market price.
Oligopoly and Product Differentiation N. Doni and L.Filistrucchi University of Florence
Duopoly with homogeneous products Introduction Price competition Quantity competition Duopoly competition and product differentiation Discrete choice models Horizontal differentiation Vertical differentiation
Duopoly with homogeneous products Price competition
Maxpi (pi − c)qi (pi ) where: qi (pi ) = Q(pi ) if pi < pj ; qi (pi ) = Q( 2 p i^ )if pi = pj ; qi (pi ) = 0 if pi > pj.
firms’ reaction functions are (weakly) upward-sloping; both firms set pi = c (equilibrium in weakly dominated strategies); every firm produces qi = a 2 −bc ; paradox: the strategic outcome of the duopoly resembles perfect competition: πi = 0.
Oligopoly and Product Differentiation N. Doni and L.Filistrucchi University of Florence
Duopoly with homogeneous products Introduction Price competition Quantity competition Duopoly competition and product differentiation Discrete choice models Horizontal differentiation Vertical differentiation
Duopoly with homogeneous products Price competition
Maxpi (pi − c)qi (pi ) where: qi (pi ) = Q(pi ) if pi < pj ; qi (pi ) = Q( 2 p i^ )if pi = pj ; qi (pi ) = 0 if pi > pj.
firms’ reaction functions are (weakly) upward-sloping; both firms set pi = c (equilibrium in weakly dominated strategies); every firm produces qi = a 2 −bc ; paradox: the strategic outcome of the duopoly resembles perfect competition: πi = 0.
Oligopoly and Product Differentiation N. Doni and L.Filistrucchi University of Florence
Duopoly with homogeneous products Introduction Price competition Quantity competition Duopoly competition and product differentiation Discrete choice models Horizontal differentiation Vertical differentiation
Duopoly with homogeneous products Price competition
Maxpi (pi − c)qi (pi ) where: qi (pi ) = Q(pi ) if pi < pj ; qi (pi ) = Q( 2 p i^ )if pi = pj ; qi (pi ) = 0 if pi > pj.
firms’ reaction functions are (weakly) upward-sloping; both firms set pi = c (equilibrium in weakly dominated strategies); every firm produces qi = a 2 −bc ; paradox: the strategic outcome of the duopoly resembles perfect competition: πi = 0.
Oligopoly and Product Differentiation N. Doni and L.Filistrucchi University of Florence
Duopoly with homogeneous products Introduction Price competition Quantity competition Duopoly competition and product differentiation Discrete choice models Horizontal differentiation Vertical differentiation
Duopoly with homogeneous products Price competition
Maxpi (pi − c)qi (pi ) where: qi (pi ) = Q(pi ) if pi < pj ; qi (pi ) = Q( 2 p i^ )if pi = pj ; qi (pi ) = 0 if pi > pj.
firms’ reaction functions are (weakly) upward-sloping; both firms set pi = c (equilibrium in weakly dominated strategies); every firm produces qi = a 2 −bc ; paradox: the strategic outcome of the duopoly resembles perfect competition: πi = 0.
Oligopoly and Product Differentiation N. Doni and L.Filistrucchi University of Florence
Duopoly with homogeneous products Introduction Price competition Quantity competition Duopoly competition and product differentiation Discrete choice models Horizontal differentiation Vertical differentiation
Duopoly with homogeneous products Price competition
Maxpi (pi − c)qi (pi ) where: qi (pi ) = Q(pi ) if pi < pj ; qi (pi ) = Q( 2 p i^ )if pi = pj ; qi (pi ) = 0 if pi > pj.
firms’ reaction functions are (weakly) upward-sloping; both firms set pi = c (equilibrium in weakly dominated strategies); every firm produces qi = a 2 −bc ; paradox: the strategic outcome of the duopoly resembles perfect competition: πi = 0.
Oligopoly and Product Differentiation N. Doni and L.Filistrucchi University of Florence
Duopoly with homogeneous products Introduction Price competition Quantity competition Duopoly competition and product differentiation Discrete choice models Horizontal differentiation Vertical differentiation
Duopoly with homogeneous products Price competition
Maxpi (pi − c)qi (pi ) where: qi (pi ) = Q(pi ) if pi < pj ; qi (pi ) = Q( 2 p i^ )if pi = pj ; qi (pi ) = 0 if pi > pj.
firms’ reaction functions are (weakly) upward-sloping; both firms set pi = c (equilibrium in weakly dominated strategies); every firm produces qi = a 2 −bc ; paradox: the strategic outcome of the duopoly resembles perfect competition: πi = 0.
