Oligopoly and behavioral uncertainty: An application of fuzzy set theory |
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Authors: | John G Greenhut M L Greenhut Yusuf Mansur |
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Institution: | 1. Arizona State University West, 85069, Phoenix, AZ, USA 2. Texas A&M University, 77843, College Station, TX, USA 3. University of Oklahoma, 73019, Norman, OK, USA
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Abstract: | This paper provides a brief sketch of fuzzy mathematics. It employs this relatively new mathematical tool to define and describe oligopoly markets and to quantitatively establish the impacts of uncertainty on the decision making that is intrinsic to oligopolistic industries. It illustrates how the technique would be used, for example, by applying fuzzy mathematics to the Herfindahl-Hirschman Index.The authors acknowledge and appreciate the helpful comments provided by the anonymous referees. |
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Keywords: | Oligopoly uncertainty fuzzy mathematics Herfindahl-Hirschman antitrust |
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