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Two simple points

 1. In a basic Cournot-Nash model, as the number of firms increases, price falls and very often the pace of innovation increases. 2. The more competitive a market, the more likely that a more “conscientious” firm is only epsilon “better” than its competitors. Think about it!  #Strauss
The post Two simple points appeared first on Marginal REVOLUTION. 

1. In a basic Cournot-Nash model, as the number of firms increases, price falls and very often the pace of innovation increases.

2. The more competitive a market, the more likely that a more “conscientious” firm is only epsilon “better” than its competitors.

Think about it!  #Strauss

The post Two simple points appeared first on Marginal REVOLUTION.

 Economics 

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Two simple points

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