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Duopoly |
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Duopoly A situation in which two companies split all or nearly all the market share of a good or service. There are two models for duopoly: the Cournot model and the Bertrand model. In the Cournot model, the two companies assume the output of the other, resulting in greater output than in a monopoly, but less than in a state of perfect competition. This pushes prices lower, but not as low as they would be in perfect competition. In the Bertrand model, the duopolistic companies compete for the lowest possible price, resulting in perfect competition. Both models are applicable in different situations and times and neither expresses duopolistic behavior perfectly. Major examples of duopolies include Pepsi and Coca-Cola in the soft drink market and Microsoft and Apple in the computer operating system market. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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Based on earlier comparative figures, the latest inventory build would suggest overall stocks held by the duopoly might surpass 13 million tonnes, while their sales of refined products could have fallen to around 16. We find that a configuration where both firms adopt flexible technologies requires less-demanding technology cost conditions in the mixed duopoly than in the private duopoly. A duopoly is a situation in which two firms control nearly all of the market for a product or service. |
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