[P2P-F] theory of oligopoly (1838)

[Michel Bauwens]

thanks!

On Thu, Aug 11, 2011 at 1:36 PM, Dante-Gabryell Monson <
dante.monson at gmail.com> 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 <michel at p2pfoundation.net>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 <
>> dante.monson at gmail.com> 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 <
>>> michel at p2pfoundation.net> wrote:
>>>
>>>> thanks dante,
>>>>
>>>> Michel
>>>>
>>>>
>>>> On Thu, Aug 11, 2011 at 12:53 PM, Dante-Gabryell Monson <
>>>> dante.monson at gmail.com> 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.
>>>>>
>>>>>
>>>>>
>>>>>
>>>>
>>>>
>>>> --
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>>>>
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>>>>
>>>>
>>>
>>
>>
>> --
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>>
>


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