Re: [P2P-F] theory of oligopoly (1838)
thanks dante, Michel On Thu, Aug 11, 2011 at 12:53 PM, Dante-Gabryell Monson < [email protected]> wrote:
http://en.wikipedia.org/wiki/Nash_equilibrium#History
A version of the Nash equilibrium concept was first used by Antoine Augustin Cournot <http://en.wikipedia.org/wiki/Antoine_Augustin_Cournot> in his theory of oligopoly (1838). In Cournot's theory, firms choose how much output to produce to maximize their own profit. However, the best output for one firm depends on the outputs of others. A Cournot equilibrium<http://en.wikipedia.org/wiki/Cournot_equilibrium> occurs when each firm's output maximizes its profits given the output of the other firms, which is a pure strategy<http://en.wikipedia.org/wiki/Pure_strategy> Nash Equilibrium.
http://en.wikipedia.org/wiki/Cournot_equilibrium
It has the following features:
- There is more than one firm and all firms produce a homogeneous<http://en.wiktionary.org/wiki/Homogeneous> product <http://en.wikipedia.org/wiki/Product_%28business%29>, i.e. there is no product differentiation<http://en.wikipedia.org/wiki/Product_differentiation> ; - Firms do not cooperate, i.e. there is no collusion<http://en.wikipedia.org/wiki/Collusion> ; - Firms have market power <http://en.wikipedia.org/wiki/Market_power>, i.e. each firm's output decision affects the good's price; - The number of firms is fixed; - Firms compete in quantities, and choose quantities simultaneously; - The firms are economically rational and act strategically<http://en.wikipedia.org/wiki/Game_theory>, usually seeking to maximize profit given their competitors' decisions.
-- P2P Foundation: http://p2pfoundation.net - http://blog.p2pfoundation.net Connect: http://p2pfoundation.ning.com; Discuss: http://lists.ourproject.org/cgi-bin/mailman/listinfo/p2p-foundation Updates: http://del.icio.us/mbauwens; http://friendfeed.com/mbauwens; http://twitter.com/mbauwens; http://www.facebook.com/mbauwens
I m trying to find out on the p2pf wiki about existing pages on "out-cooperation". Michel, I remember, but can not find its reference, that you may have talked in the past about something like " open source collaboration business models having a competitive advantage on closed proprietary business models , hence out-cooperating them" ? Possibly the links below could be added to a talk page and one could attempt to understand how, possibly mathematically, collaboration may influence on such equilibrium hypothesis ? On Thu, Aug 11, 2011 at 7:56 AM, Michel Bauwens <[email protected]>wrote:
thanks dante,
Michel
On Thu, Aug 11, 2011 at 12:53 PM, Dante-Gabryell Monson < [email protected]> wrote:
http://en.wikipedia.org/wiki/Nash_equilibrium#History
A version of the Nash equilibrium concept was first used by Antoine Augustin Cournot <http://en.wikipedia.org/wiki/Antoine_Augustin_Cournot> in his theory of oligopoly (1838). In Cournot's theory, firms choose how much output to produce to maximize their own profit. However, the best output for one firm depends on the outputs of others. A Cournot equilibrium<http://en.wikipedia.org/wiki/Cournot_equilibrium> occurs when each firm's output maximizes its profits given the output of the other firms, which is a pure strategy<http://en.wikipedia.org/wiki/Pure_strategy> Nash Equilibrium.
http://en.wikipedia.org/wiki/Cournot_equilibrium
It has the following features:
- There is more than one firm and all firms produce a homogeneous<http://en.wiktionary.org/wiki/Homogeneous> product <http://en.wikipedia.org/wiki/Product_%28business%29>, i.e. there is no product differentiation<http://en.wikipedia.org/wiki/Product_differentiation> ; - Firms do not cooperate, i.e. there is no collusion<http://en.wikipedia.org/wiki/Collusion> ; - Firms have market power <http://en.wikipedia.org/wiki/Market_power>, i.e. each firm's output decision affects the good's price; - The number of firms is fixed; - Firms compete in quantities, and choose quantities simultaneously; - The firms are economically rational and act strategically<http://en.wikipedia.org/wiki/Game_theory>, usually seeking to maximize profit given their competitors' decisions.
-- P2P Foundation: http://p2pfoundation.net - http://blog.p2pfoundation.net
Connect: http://p2pfoundation.ning.com; Discuss: http://lists.ourproject.org/cgi-bin/mailman/listinfo/p2p-foundation
Updates: http://del.icio.us/mbauwens; http://friendfeed.com/mbauwens; http://twitter.com/mbauwens; http://www.facebook.com/mbauwens
I do talk about it, but don't have a specific reference in the wik ( http://p2pfoundation.net/Asymmetric_Competition) You could always create an entry and add the [[Category:Economics]] or [[Category:Cooperation]], both existing sections, we do have an extensive section on open business models, http://p2pfoundation.net/Category:Business_Models Michel On Thu, Aug 11, 2011 at 1:06 PM, Dante-Gabryell Monson < [email protected]> wrote:
I m trying to find out on the p2pf wiki about existing pages on "out-cooperation".
Michel, I remember, but can not find its reference, that you may have talked in the past about something like " open source collaboration business models having a competitive advantage on closed proprietary business models , hence out-cooperating them" ?
Possibly the links below could be added to a talk page and one could attempt to understand how, possibly mathematically, collaboration may influence on such equilibrium hypothesis ?
On Thu, Aug 11, 2011 at 7:56 AM, Michel Bauwens <[email protected]>wrote:
thanks dante,
Michel
On Thu, Aug 11, 2011 at 12:53 PM, Dante-Gabryell Monson < [email protected]> wrote:
http://en.wikipedia.org/wiki/Nash_equilibrium#History
A version of the Nash equilibrium concept was first used by Antoine Augustin Cournot <http://en.wikipedia.org/wiki/Antoine_Augustin_Cournot> in his theory of oligopoly (1838). In Cournot's theory, firms choose how much output to produce to maximize their own profit. However, the best output for one firm depends on the outputs of others. A Cournot equilibrium<http://en.wikipedia.org/wiki/Cournot_equilibrium> occurs when each firm's output maximizes its profits given the output of the other firms, which is a pure strategy<http://en.wikipedia.org/wiki/Pure_strategy> Nash Equilibrium.
http://en.wikipedia.org/wiki/Cournot_equilibrium
It has the following features:
- There is more than one firm and all firms produce a homogeneous<http://en.wiktionary.org/wiki/Homogeneous> product <http://en.wikipedia.org/wiki/Product_%28business%29>, i.e. there is no product differentiation<http://en.wikipedia.org/wiki/Product_differentiation> ; - Firms do not cooperate, i.e. there is no collusion<http://en.wikipedia.org/wiki/Collusion> ; - Firms have market power <http://en.wikipedia.org/wiki/Market_power>, i.e. each firm's output decision affects the good's price; - The number of firms is fixed; - Firms compete in quantities, and choose quantities simultaneously; - The firms are economically rational and act strategically<http://en.wikipedia.org/wiki/Game_theory>, usually seeking to maximize profit given their competitors' decisions.
-- P2P Foundation: http://p2pfoundation.net - http://blog.p2pfoundation.net
Connect: http://p2pfoundation.ning.com; Discuss: http://lists.ourproject.org/cgi-bin/mailman/listinfo/p2p-foundation
Updates: http://del.icio.us/mbauwens; http://friendfeed.com/mbauwens; http://twitter.com/mbauwens; http://www.facebook.com/mbauwens
-- P2P Foundation: http://p2pfoundation.net - http://blog.p2pfoundation.net Connect: http://p2pfoundation.ning.com; Discuss: http://lists.ourproject.org/cgi-bin/mailman/listinfo/p2p-foundation Updates: http://del.icio.us/mbauwens; http://friendfeed.com/mbauwens; http://twitter.com/mbauwens; http://www.facebook.com/mbauwens
Thanks Michel ! pasted it here : http://p2pfoundation.net/Talk:Asymmetric_Competition ( further edits / suggestions welcomed ) On Thu, Aug 11, 2011 at 8:12 AM, Michel Bauwens <[email protected]>wrote:
I do talk about it, but don't have a specific reference in the wik ( http://p2pfoundation.net/Asymmetric_Competition)
You could always create an entry and add the [[Category:Economics]] or [[Category:Cooperation]], both existing sections,
we do have an extensive section on open business models, http://p2pfoundation.net/Category:Business_Models
Michel
On Thu, Aug 11, 2011 at 1:06 PM, Dante-Gabryell Monson < [email protected]> wrote:
I m trying to find out on the p2pf wiki about existing pages on "out-cooperation".
Michel, I remember, but can not find its reference, that you may have talked in the past about something like " open source collaboration business models having a competitive advantage on closed proprietary business models , hence out-cooperating them" ?
Possibly the links below could be added to a talk page and one could attempt to understand how, possibly mathematically, collaboration may influence on such equilibrium hypothesis ?
On Thu, Aug 11, 2011 at 7:56 AM, Michel Bauwens <[email protected]
wrote:
thanks dante,
Michel
On Thu, Aug 11, 2011 at 12:53 PM, Dante-Gabryell Monson < [email protected]> wrote:
http://en.wikipedia.org/wiki/Nash_equilibrium#History
A version of the Nash equilibrium concept was first used by Antoine Augustin Cournot<http://en.wikipedia.org/wiki/Antoine_Augustin_Cournot> in his theory of oligopoly (1838). In Cournot's theory, firms choose how much output to produce to maximize their own profit. However, the best output for one firm depends on the outputs of others. A Cournot equilibrium<http://en.wikipedia.org/wiki/Cournot_equilibrium> occurs when each firm's output maximizes its profits given the output of the other firms, which is a pure strategy<http://en.wikipedia.org/wiki/Pure_strategy> Nash Equilibrium.
http://en.wikipedia.org/wiki/Cournot_equilibrium
It has the following features:
- There is more than one firm and all firms produce a homogeneous<http://en.wiktionary.org/wiki/Homogeneous> product <http://en.wikipedia.org/wiki/Product_%28business%29>, i.e. there is no product differentiation<http://en.wikipedia.org/wiki/Product_differentiation> ; - Firms do not cooperate, i.e. there is no collusion<http://en.wikipedia.org/wiki/Collusion> ; - Firms have market power<http://en.wikipedia.org/wiki/Market_power>, i.e. each firm's output decision affects the good's price; - The number of firms is fixed; - Firms compete in quantities, and choose quantities simultaneously; - The firms are economically rational and act strategically<http://en.wikipedia.org/wiki/Game_theory>, usually seeking to maximize profit given their competitors' decisions.
-- P2P Foundation: http://p2pfoundation.net - http://blog.p2pfoundation.net
Connect: http://p2pfoundation.ning.com; Discuss: http://lists.ourproject.org/cgi-bin/mailman/listinfo/p2p-foundation
Updates: http://del.icio.us/mbauwens; http://friendfeed.com/mbauwens; http://twitter.com/mbauwens; http://www.facebook.com/mbauwens
-- P2P Foundation: http://p2pfoundation.net - http://blog.p2pfoundation.net
Connect: http://p2pfoundation.ning.com; Discuss: http://lists.ourproject.org/cgi-bin/mailman/listinfo/p2p-foundation
Updates: http://del.icio.us/mbauwens; http://friendfeed.com/mbauwens; http://twitter.com/mbauwens; http://www.facebook.com/mbauwens
thanks! On Thu, Aug 11, 2011 at 1:36 PM, Dante-Gabryell Monson < [email protected]> wrote:
Thanks Michel !
pasted it here :
http://p2pfoundation.net/Talk:Asymmetric_Competition
( further edits / suggestions welcomed )
On Thu, Aug 11, 2011 at 8:12 AM, Michel Bauwens <[email protected]>wrote:
I do talk about it, but don't have a specific reference in the wik ( http://p2pfoundation.net/Asymmetric_Competition)
You could always create an entry and add the [[Category:Economics]] or [[Category:Cooperation]], both existing sections,
we do have an extensive section on open business models, http://p2pfoundation.net/Category:Business_Models
Michel
On Thu, Aug 11, 2011 at 1:06 PM, Dante-Gabryell Monson < [email protected]> wrote:
I m trying to find out on the p2pf wiki about existing pages on "out-cooperation".
Michel, I remember, but can not find its reference, that you may have talked in the past about something like " open source collaboration business models having a competitive advantage on closed proprietary business models , hence out-cooperating them" ?
Possibly the links below could be added to a talk page and one could attempt to understand how, possibly mathematically, collaboration may influence on such equilibrium hypothesis ?
On Thu, Aug 11, 2011 at 7:56 AM, Michel Bauwens < [email protected]> wrote:
thanks dante,
Michel
On Thu, Aug 11, 2011 at 12:53 PM, Dante-Gabryell Monson < [email protected]> wrote:
http://en.wikipedia.org/wiki/Nash_equilibrium#History
A version of the Nash equilibrium concept was first used by Antoine Augustin Cournot<http://en.wikipedia.org/wiki/Antoine_Augustin_Cournot> in his theory of oligopoly (1838). In Cournot's theory, firms choose how much output to produce to maximize their own profit. However, the best output for one firm depends on the outputs of others. A Cournot equilibrium<http://en.wikipedia.org/wiki/Cournot_equilibrium> occurs when each firm's output maximizes its profits given the output of the other firms, which is a pure strategy<http://en.wikipedia.org/wiki/Pure_strategy> Nash Equilibrium.
http://en.wikipedia.org/wiki/Cournot_equilibrium
It has the following features:
- There is more than one firm and all firms produce a homogeneous<http://en.wiktionary.org/wiki/Homogeneous> product <http://en.wikipedia.org/wiki/Product_%28business%29>, i.e. there is no product differentiation<http://en.wikipedia.org/wiki/Product_differentiation> ; - Firms do not cooperate, i.e. there is no collusion<http://en.wikipedia.org/wiki/Collusion> ; - Firms have market power<http://en.wikipedia.org/wiki/Market_power>, i.e. each firm's output decision affects the good's price; - The number of firms is fixed; - Firms compete in quantities, and choose quantities simultaneously; - The firms are economically rational and act strategically<http://en.wikipedia.org/wiki/Game_theory>, usually seeking to maximize profit given their competitors' decisions.
-- P2P Foundation: http://p2pfoundation.net - http://blog.p2pfoundation.net
Connect: http://p2pfoundation.ning.com; Discuss: http://lists.ourproject.org/cgi-bin/mailman/listinfo/p2p-foundation
Updates: http://del.icio.us/mbauwens; http://friendfeed.com/mbauwens; http://twitter.com/mbauwens; http://www.facebook.com/mbauwens
-- P2P Foundation: http://p2pfoundation.net - http://blog.p2pfoundation.net
Connect: http://p2pfoundation.ning.com; Discuss: http://lists.ourproject.org/cgi-bin/mailman/listinfo/p2p-foundation
Updates: http://del.icio.us/mbauwens; http://friendfeed.com/mbauwens; http://twitter.com/mbauwens; http://www.facebook.com/mbauwens
-- P2P Foundation: http://p2pfoundation.net - http://blog.p2pfoundation.net Connect: http://p2pfoundation.ning.com; Discuss: http://lists.ourproject.org/cgi-bin/mailman/listinfo/p2p-foundation Updates: http://del.icio.us/mbauwens; http://friendfeed.com/mbauwens; http://twitter.com/mbauwens; http://www.facebook.com/mbauwens
participants (2)
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Dante-Gabryell Monson -
Michel Bauwens