Econometrica: Sep 1974, Volume 42, Issue 5

Measurement of Conjectural Variations in Oligopoly

https://doi.org/0012-9682(197409)42:5<947:MOCVIO>2.0.CO;2-Y
p. 947-966

Gyoichi Iwata

This paper proposes a method for measuring the numerical value of the conjectural variation which has been a key concept in oligopoly theories. The statistical property of the estimator for the conjectural variation is examined and two statistical tests are presented. One is a test for the hypothesis that the conjectural variation is a specified value. The other is designed for the hypothesis that there is a certain type of collusion among oligopoly firms. These are applied to the Japanese flat glass industry.

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