What Game are You Playing? Game theory is often introduced to future decision makers at a young age through tic-tac-toe then continues with chess strategy and sunsets with a few examples in ...

Then, we compared this with the price under the Cournot equilibrium. We found that the Cournot equilibrium price is roughly six times higher than the Bertrand equilibrium price, resulting in the ...

Cournot Duopoly: A market structure in which two firms compete on the quantity of output produced, with decisions made simultaneously. Nash Equilibrium: A state where no player can obtain a higher ...

In a three-country partial equilibrium model with differentiated Cournot and Bertrand competition, we incorporate the two main FDI modes: Greenfield Investment (G.I.) and cross-border Merger and ...

In Cournot competition models, firms choosing production quantities simultaneously reach equilibrium when no firm can increase its profit by changing its output unilaterally. Similarly ...

Economics analysed this kind of competition between firms long ago. The French economist Augustin Cournot discussed it all the way back in 1837. It’s called the Cournot model of competition.

Nim and combinatorial games. Congestion games. Games in strategic form, dominated strategies, Nash equilibrium. Cournot quantity competition. Game trees with perfect information, backward induction.