In 1838, Antoine Augustin Cournot published a book titled "Researches Into the Mathematical Principles of the Theory … See more

1. Existence of only two sellers.
2. Interdependence: the action of each firm influences the demand faced by their rival.
3. Presence of monopoly elements: as long as products are differentiated, the firms enjoy som… See more

In a duopoly, quality standards can play a significant role in the competitive dynamics between the two firms. A low-quality manufacturer may benefit from a slightly stringent quality standard in the absence of sunk costs… See more

Like a market, a political system can be dominated by two groups, which exclude other parties or ideologies from participation. One party or the other tends to dominate government at any given time (the Majorit… See more

A Cournot duopoly is a model of strategic interaction between two firms where they simultaneously choose their output levels, assuming the rival's output level is fixed. The firms compete on quantity, and each firm attemp… See more

A commonly cited example of a duopoly is that involving Visa and Mastercard, who between them control a large proportion of the electronic payment processing market. In 2000 they were the defendants in a United Stat… See more