New Study Reveals Strategies for Market Dominance in Oligopoly Competition
The article compares how companies perform in different roles (leader, competitors, followers) in various types of markets. The results show that in some cases, being a leader or follower affects profits and output. The Stackelberg model is best for total output and social welfare, while the Cournot model is better for market price and total profit. In markets with different types of products, prices and outputs vary based on the degree of product substitution.