How Hierarchical Structures Impact on Competition
Year: 2008 Volume: 2 Issue: 3 Pages: 227-236
Abstract: Stackelberg models for hierarchical oligopolistic markets with a homogenous product were studied by researchers extensively. The goal of this paper is to extend the classical solution in closed form of the Stackelberg model for a general hierarchical structures composed by firms arranged into groups of different hierarchical levels.
JEL classification: C72
Keywords: Hierarchical structures, multi-level Stackelberg equilibrium, Nash-Cournot equilibrium
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