Cooperative oligopolistic pricing |
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| Affiliation: | 1. Department of Tropical Medicine, Medical Microbiology, and Pharmacology, John A. Burns School of Medicine, University of Hawaiʻi at Mānoa, Honolulu, HI 96813, USA;2. Bioqual Inc., Rockville, MD 20850, USA;3. Department of Microbiology and Immunology, University of Texas Medical Branch, Galveston, TX 77550, USA;4. Galveston National Laboratory, University of Texas Medical Branch, Galveston, TX 77550, USA;5. Soligenix, Inc., Princeton, NJ 08540, USA;1. Department of Agricultural and Food Sciences, University of Bologna, Italy;2. Department of Economics, Society and Politics, University of Urbino Carlo Bo, Italy;1. School of Business and Management, University of Central Lancashire Cyprus, 12-14 University Avenue, Pyla, 7080, Larnaka, Cyprus;2. Oxford School of Hospitality Management, Oxford Brookes University, Gipsy Lane Campus, Headington, Oxford OX3 OBP, UK;1. University of Edinburgh, Institute of Geography and The Lived Environment, Drummond Street, Edinburgh, Midlothian EH8 9XP, UK;2. Brunel University London, Department of Computer Science, St. John''s Building, Kingston Lane, Uxbridge, Middlesex UB8 3PH, UK;3. University of Nottingham, Room Horizon Geospatial Building, Jubilee Campus, Wollaton Road, Nottingham NG8 1BB, UK |
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| Abstract: | The main purpose of the present paper is to show that the equilibrium price in an oligopolistic market with cooperative pricing but noncooperative production as a rule approaches neither the monopoly price (when there are few firms) nor the competitive price (when there are many firms). Instead it is equal to that price which maximizes collective sales revenues if the industry's demand curve is inelastic, while it is “almost” competitive if demand is elastic. |
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