de Pinto, Marco; Goerke, Laszlo - In: Bulletin of Economic Research 74 (2021) 4, pp. 927-948
How does cost uncertainty affect the welfare consequences of an oligopoly? To answer this question, we investigate a … Cournot oligopoly in which firms produce a homogeneous commodity and market entry is feasible. Marginal costs are unknown ex … analytical setup. Furthermore, the welfare loss due to oligopoly tends to increase with uncertainty. …