cournot competition
Cournot competition is a market structure where competing firms independently choose the quantity of goods they produce, taking into account the anticipated reactions of other firms but assuming their rivals' output remains constant; resulting in strategic decision-making to maximize individual profits.
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Related Concepts (2)
Similar Concepts
- bertrand competition
- competition
- competitive rivalry
- competitiveness
- conflict and competition
- cooperative competition
- corporate competition
- economic competition
- fair competition
- inter-group competition
- intergroup competition
- international tax competition
- market competition
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