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This lecture introduces the idea of duopolistic competition: two firms competing with one another to extract as much value as they can. Duopoly is a middle case between monopoly and perfect competition, and is a special type of oligopoly.
Overall, the course will cover competition of five varieties: quantity produced (both Cournot and Stackelberg), price (Betrand), effort (Tullock contests), timing (duels), and spatial location (Hotelling).
If you need a refresher on game theory, check the main Game Theory 101 playlist: • Game Theory 101 Full Course
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