Lapan, Harvey E.; Hennessy, David A. - Iowa State University of Science and Technology <Ames, … - 2004
Welfare in a two-product Cournot oligopoly is shown to increase (decrease) with an increase incorrelation between unit costs when the outputs complement (substitute) in demand. A morequalified correlation structure is required for the result to apply in a three-product Cournotoligopoly when...