When the labor supply schedule is bending forward at low wage levels, the average cost curve of firms does the same. This leads to the possibility of multiple equilibria, in particular for monopolists, thereby opening a broader range of options and keeping non-profitable firms in business....

Solves von Stackelberg equilibria in a Bertrand-Edgeworth duopoly game. Shows that, initially, the environment is characterized by efficient rationing and capacity constraints. Since interest lies in sustaining monopoly outcomes from non-co-operative behaviour, introduces the buyout option,...

Reviews the international response to Marktform und Gleichgewicht, and questions the reactions of astonishment by some critics, including Scherer, concerning Stackelberg’s explanation of disequilibrium of certain market structures. Defends Stackelberg’s standpoint by considering the specific...

Discusses Heinrich von Stackelberg as a mathematical economist, referring to his book Marktform und Gleichgewicht. Presents the main theories of rivalrous interaction among business firms and the problems of oligopoly and monopoly. Notes how Stackelberg used indifference curves to map the...

Purpose – This paper aims at theoretical exploration of price and quantity setting behaviors of a monopolist encountering uncertain product demand within the mean-risk frameworks. In the microeconomic literature, the relationships between price and quantity have been traditionally studied...

Purpose – The purpose of this paper is twofold: to investigate the market structure of Saudi Arabia banking industry; and to evaluate the monopoly power of banks during the years 1993‐2006. Design/methodology/approach – The paper is examining the market structure using the most frequently...

Purpose – This paper aims to discuss whether product research and development (R&D) in developed economies tends to be too high compared with the socially desired level. Design/methodology/approach – In this context, a model of vertical and horizontal product differentiation within the...

Edward Hastings Chamberlin, a great innovator in economic theory, has been badly served by his “followers”, who have “blanked” and “distorted” his message. Today it is the Chicago critics of monopolistic competition, not his self‐appointed followers at Harvard, who are developing...

Reviews the international response to Marktform und Gleichgewicht , and questions the reactions of astonishment by some critics, including Scherer, concerning Stackelberg’s explanation of disequilibrium of certain market structures. Defends Stackelberg’s standpoint by considering the...