Cournot Model and Stackelberg Model (With Diagram)

The Cournot Model and the Cournot Solution: The first systematic oligopoly model was published by the French economist Antoine Augustin Cournot (1801-77) in 1838. Although Cournot's model was based on some unrealistic assump­tions, his method of analysis has been useful for subsequent theoretical development in the areas of duopoly and oligopoly. The Assumptions of the Cournot Model: The Cournot model [...]