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Intra-brand competition in a differentiated oligopoly
Michèle Breton1, Lucia Sbragia2
1Department of Decision Sciences, HEC Montréal, Montreal, Canada.
Journal of Economics (Vienna, Austria : Online)
|February 11, 2021
Summary
This study examines differentiated oligopolies, analyzing how product substitutability and market composition affect competition and welfare. It identifies equilibrium market structures based on firms
Area of Science:
- Industrial Organization
- Microeconomics
- Game Theory
Background:
- Examines a differentiated oligopoly model with two product varieties supplied by two firm groups.
- Considers Cournot competition dynamics within this market structure.
Purpose of the Study:
- To analyze the sensitivity of Cournot solutions to product substitutability and market composition.
- To investigate the welfare consequences of intensified competition.
- To determine the equilibrium market composition driven by firm profit motives.
Main Methods:
- Cournot competition analysis.
- Sensitivity analysis regarding product substitutability and market composition.
- Welfare consequence evaluation.
- Identification of equilibrium market composition.
Main Results:
- Results are expressed using the degree of product substitutability and a novel 'weighted relative efficiency' (WRE) parameter.
- Market composition changes influence intra-brand competition intensity.
- Identifies equilibrium market composition under profit-driven firm behavior.
Conclusions:
- The study provides insights into the interplay of firm characteristics, market conditions, and competitive intensity in differentiated oligopolies.
- Findings are generalizable through the WRE parameter, offering a unified framework for analysis.
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