Learn More about Oligopoly with First Mover Advantage—the Stackelberg Model
The concepts of the duopoly or the functioning of a duopolistic market form the basis of the construction of the Stackelberg model. Hence having a conceptual clarity on duopoly is very important to before beginning with the Stackelberg model. Online services that provide First Mover Advantage—the Stackelberg Model homework help begins with the very basics of economics so that students can eventually absorb the features of these complex evaluations.
Many economists have established different models in accordance with the market conditions. A detailed study of these models is beneficial as they make understanding of market conditions better and less complex.
What is a duopoly market?
Duopoly is the most primitive form of oligopoly where only two major companies can exhibit control over the entire market. These companies produce most of the market supplies for certain goods and services. They are known to own the majority of the market shares at a given point of time. First Mover Advantage—the Stackelberg Model assignment help gives students sufficient material to finish assignments on time.
A significantly limiting type of an oligopoly can be named as the duopoly where only the number of firms is exhibiting total control over the market changes. In a duopoly market, the decisions made by a particular seller are not independent of one another.
The Stackelberg model and its features
The Stackelberg Model was derived by a German economist called Heinrich von Stackelberg. This is largely known to be a continuation of the Cournot Model. This duopoly model is a schematic or sequential process. First Mover Advantage—the Stackelberg Model homework help expert guides you to learn the intricate details of economics.
Important facts-
- In this model, there are particularly two companies that feature in producing identical or similar products that are subject to production cost and demand.
- Here one of the two firms has an upper hand which has a higher brand value. That firm has the first say in which quantity of their products is to sell first. The second company which is also known as the follower decides on the production quantity.
- To reach the Stackelberg equilibrium one has to make sure not to behave as the Cournot’s model.
The study of Stackelberg model requires conceptual clarity on various topics related to economics. Hence obtaining additional assistance for topics like these must be encouraged at all times. Students must be provided an adequate amount of First Mover Advantage—the Stackelberg Model assignment help to get them through the process learning such complex subject matters.
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