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Article: On oligopolistic pricing: evidence from public construction works.
- Article from:
- Atlantic Economic Journal
- Article date:
- September 1, 1996
- Author:
CopyrightCOPYRIGHT 1996 Atlantic Economic Society. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Unlike monopolies or competition, there is a wide spectrum of theories on oligopolies. Setting aside complications introduced by time elements, several static theories have linked oligopolistic pricing with the number of firms involved. Yet testable implications run from one extreme to the other. On one end of the continuum, Chamberlin [The Theory of Monopolistic Competition, 1946, especially Chapter 5] advances the idea that duopolists in their pursuit of joint profit will engage in monopoly pricing. At the other end of the continuum, Bertrand [Journal des Savants, 67, 1883, pp. 499-508] (see also the discussions in Scherer and Ross [Industrial Market Structure and Economic ...