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Jatin Raghuvanshi
on Oct 14, 2024

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A Stackelberg leader will necessarily make at least as much profit as he would if he acted as a Cournot oligopolist.

Stackelberg Leader

A firm in a duopoly that moves first to set its output level, thereby determining the market's price and influencing the subsequent behavior of a follower firm.

Cournot Oligopolist

A firm competing in a market where a few firms control the majority of the market share and where each firm takes into account its rivals' production quantities when determining its own quantity.

  • Comprehend the Stackelberg leadership model and its implications on market dynamics.
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Ashley LewisOct 21, 2024
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