单词 | duopoly |
释义 | duopoly A market situation with only two sellers, each of whom must take account of the other's expected reactions. A Cournot duopolist assumes that the rival will hold constant their quantity produced; a Bertrand duopolist believes that the rival will hold constant the price charged. Duopolists may make more complex assumptions, for example that the rival will react to their actions according to some conjectural reaction function. See also: Bertrand duopoly, Cournot duopoly, and Stackelberg duopoly |
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