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1 - 3 van 3 voor conjectural variations
Microsoft Word - memo140.doc
... x . (30) the pricing rule that frh apply is based on the conjectural variations approach12 and is given by (31). conjectural variations mean that firms have expectations about other firms reactions to a change ...
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memo144.pdf
... traders in a conjectural variations production market is investigated. strategic modelling in the electricity sector is much more widespread, and also here the cournot model and variations thereof ... , and its efficient rationing, are incorporated in the cournot framework. the basic conjectural variations model assumes that all producers make their quantity decisions simultaneously. this assumption ...
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memo940.pdf
... in stoft (2002) starting at p.347. 3.3 conjectural variations and supply functions the theory of conjectural variations assumes that each firm anticipates (conjectures) a reaction (variation) ... main criticism against models using conjectural variations is that they are based on inconsistent beliefs if used in a multiperiod setting. in a multiperiod conjectural variations model, the outcome ...
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