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Cournot competition in the joint products market under demand uncertainty
Author(s) -
Okura Mahito
Publication year - 2021
Publication title -
managerial and decision economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.288
H-Index - 51
eISSN - 1099-1468
pISSN - 0143-6570
DOI - 10.1002/mde.3294
Subject(s) - cournot competition , microeconomics , economics , profit (economics) , competition (biology) , supply and demand , bertrand competition , industrial organization , oligopoly , ecology , biology
The purpose of this study is to analyze the market in Cournot competition under demand uncertainty when two firms compete with two joint products which are indivisible multiple goods, such as petroleum products. We investigate the situations in which no, either, or both firms have either no demand information or have demand information in one or both markets and examine how the differences in information structures affect the equilibrium expected profit of each firm.