Abstract
This paper explores the study of bilateral oligopoly, in which both sellers and buyers have substantial influence on the market. We lead readers coherently through the key results that emerge from the literature on bilateral oligopoly by means of worked examples based on the same underlying two commodity exchange economy, along with broader consideration of the relevant literature. This allows us to concisely compare the different equilibrium outcomes when agents act simultaneously vs sequentially, and when some/all agents are assumed to behave competitively, giving the reader much-needed straightforward access to the results of this challenging literature.
Original language | English |
---|---|
Pages (from-to) | 103-128 |
Number of pages | 26 |
Journal | Journal of Economics |
Volume | 133 |
Issue number | 2 |
Early online date | 20 Jan 2021 |
DOIs | |
Publication status | E-pub ahead of print - 20 Jan 2021 |
Keywords
- exchange economy
- bilateral oligopoly
- Cournot-Walras
- Cournot-Nash