Dynamic model of fishing: The relationship to conjectural variations
The relationship between conjectural variations and market structure in the static and dynamic model of fishing is investigated. Four possible market structures are considered: free entry competition, perfect competition, monopoly and duopoly. It is shown that various assumptions on conjecture variations lead to different conclusions regarding market behaviour. The assumptions about the conjectural variations, which lead to a perfectly competitive solution, to monopoly, to open loop duopoly, or to closed loop duopoly, are presented.
scientific article; zbMATH DE number 4018729