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Cournot Duopoly Model
(1838)
Named after French economist Antoine Augustin Cournot (1801-1877), Cournot duopoly model shows two firms that react to one another's output changes until they eventually reach a position from which neither would wish to depart.
Both firms eventually expand to such a degree that they have equal shares in the market and secure only normal profits.
Also see: duopoly theory, bertrand duopoly model, bilateral monopoly
Source:
A Cournot, Richerches sur lesprincipes mathema-tiques de la théorie des richesses (Paris, 1838)
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