duopoly

du·op·o·ly

D0428100 (do͞o-ŏp′ə-lē, dyo͞o-)n. pl. du·op·o·lies An economic or political condition in which power is concentrated in two persons or groups.

[duo- + (mono)poly.]

duopoly

(djʊˈɒpəlɪ) n, pl -lies (Commerce) a situation in which control of a commodity or service in a particular market is vested in just two producers or suppliers duopolistic adj

du•op•o•ly

(duˈɒp ə li, dyu-)

n., pl. -lies. a market situation in which prices and other factors are controlled by only two sellers. [1915–20; duo- + (mono) poly]

duopoly

the market condition that exists when there are only two sellers. — duopolist, n. — duopolistic, adj.See also: Trade

Translations

duopolio

duopoly

A condition in which two entities dominate a market. Pronounced "doo-op-a-lee." For example, Windows and Mac are a personal computer duopoly. iOS and Android are a smartphone duopoly.

Duopoly

a term used in bourgeois political economy to define a market structure of a sector of the economy in developed capitalist countries in which there are only two suppliers of a certain commodity and they have made no monopolistic agreements on prices, markets, production quotas, etc.

The concept of duopoly reflects various forms of market organization. The first form is a market that is dominated by two large commercial-industrial companies having a secret agreement ensuring maximum profit through nonequivalent exchange. Such a situation was typical in the beginning of the 20th century. The second form is a market of some contemporary sector of mass production that is controlled by two companies. Usually there exists between them a tacit agreement on monopolistic prices, and nonprice competition is practiced. The third form is a market in which there are two suppliers but a complete absence of any monopolistic agreement. This is possible under two conditions: the temporary situation in which a new commodity is initally being produced, involving a “test of strength” between two suppliers, and the situation in which competition is bitter during a transition period from simple to more developed forms of monopoly. Some bourgeois economists point to the latter to prove the possibility of a continuous absence of monopoly in conditions of highly concentrated production. The majority of contemporary bourgeois economists, however, consider duopoly as a variety of monopoly (a view that corresponds to the facts).

Economic and mathematical research in duopoly was begun in the 19th century by A. Cournot and J. Bertrand of France and F. Edgeworth of Great Britain. In the 1930’s, H. Stackelberg (Germany) described certain aspects of duopoly that depended on the conduct of duopolists. The contemporary theory about duopoly originated under the influence of the monopolistic competition theories of E. H. Chamberlin (USA) and the imperfect competition theories of J. Robinson (England); the works of R. Triffin (USA) began to take into account the more complicated character of real market conditions, such as the interdependence of economic sectors, the changes in demand and in assets, different kinds of duopoly and market institutions, the scope of information about the market, and so on.

REFERENCES

Chamberlin, E. H. Teoriia monopolisticheskoi konkurentsii. Moscow, 1959. (Translated from English.)
James, E. Istoriia ekonomicheskoi mysli XX v. Moscow, 1959. (Translated from French.)
Seligman, B. Osnovnye techeniia sovremennoi ekonomicheskoi mysli. Moscow, 1968. (Translated from English.)
Neumann, J., and O. Morgenstern. The Theory of Games and Economic Behavior. Princeton, 1944.

IU. A. VASIL’CHUK

duopoly

Duopoly

A situation in which two companies split all or nearly all the market share of a good or service. There are two models for duopoly: the Cournot model and the Bertrand model.

In the Cournot model, the two companies assume the output of the other, resulting in greater output than in a monopoly, but less than in a state of perfect competition. This pushes prices lower, but not as low as they would be in perfect competition.
In the Bertrand model, the duopolistic companies compete for the lowest possible price, resulting in perfect competition. Both models are applicable in different situations and times and neither expresses duopolistic behavior perfectly. Major examples of duopolies include Pepsi and Coca-Cola in the soft drink market and Microsoft and Apple in the computer operating system market.

duopoly

a subset of OLIGOPOLY, describing a MARKET situation in which there are only two suppliers. There are a number of models of duopoly markets which fall into two main categories:

nonreactive models that do not allow for any anticipation by one firm of his competitor's reaction to either a price or quantity change. For example, in the Bertrand duopoly model, each supplier assumes that his rival will not change price in response to his own initial price cut, and this assumption will encourage him to cut his price in order to increase his sales. Since both firms reason in this way, the price will eventually be driven down to the competitive level (i.e. a NORMAL PROFIT equilibrium). In the Cournot duopoly model, it is quantity not price that is adjusted, with one firm altering its output on the assumption that his rival's output will remain unchanged. Since both firms reason in this way output will eventually be expanded to the point where the firms share the market equally and both secure only normal profits;
reactive models that explicitly assume that the two firms recognize that their actions are interdependent and hence will attempt to avoid mutually ruinous forms of rivalry. Also called collusive duopoly Specifically, firms will attempt to maximize their joint profits by establishing agreed prices above the competitive equilibrium

price. This can be achieved by informal means such as the acceptance by both duopolists that one of them acts as price leader (see PRICE LEADERSHIP model) or by means of formal COLLUSION between the two duopolists (see CARTEL).

单词	duopoly
释义	duopoly du·op·o·ly D0428100 (do͞o-ŏp′ə-lē, dyo͞o-)n. pl. du·op·o·lies An economic or political condition in which power is concentrated in two persons or groups. [duo- + (mono)poly.] duopoly (djʊˈɒpəlɪ) n, pl -lies (Commerce) a situation in which control of a commodity or service in a particular market is vested in just two producers or suppliers duopolistic adj du•op•o•ly (duˈɒp ə li, dyu-) n., pl. -lies. a market situation in which prices and other factors are controlled by only two sellers. [1915–20; duo- + (mono) poly] duopoly the market condition that exists when there are only two sellers. — duopolist, n. — duopolistic, adj.See also: Trade Translations duopolio duopoly duopoly A condition in which two entities dominate a market. Pronounced "doo-op-a-lee." For example, Windows and Mac are a personal computer duopoly. iOS and Android are a smartphone duopoly. Duopoly a term used in bourgeois political economy to define a market structure of a sector of the economy in developed capitalist countries in which there are only two suppliers of a certain commodity and they have made no monopolistic agreements on prices, markets, production quotas, etc. The concept of duopoly reflects various forms of market organization. The first form is a market that is dominated by two large commercial-industrial companies having a secret agreement ensuring maximum profit through nonequivalent exchange. Such a situation was typical in the beginning of the 20th century. The second form is a market of some contemporary sector of mass production that is controlled by two companies. Usually there exists between them a tacit agreement on monopolistic prices, and nonprice competition is practiced. The third form is a market in which there are two suppliers but a complete absence of any monopolistic agreement. This is possible under two conditions: the temporary situation in which a new commodity is initally being produced, involving a “test of strength” between two suppliers, and the situation in which competition is bitter during a transition period from simple to more developed forms of monopoly. Some bourgeois economists point to the latter to prove the possibility of a continuous absence of monopoly in conditions of highly concentrated production. The majority of contemporary bourgeois economists, however, consider duopoly as a variety of monopoly (a view that corresponds to the facts). Economic and mathematical research in duopoly was begun in the 19th century by A. Cournot and J. Bertrand of France and F. Edgeworth of Great Britain. In the 1930’s, H. Stackelberg (Germany) described certain aspects of duopoly that depended on the conduct of duopolists. The contemporary theory about duopoly originated under the influence of the monopolistic competition theories of E. H. Chamberlin (USA) and the imperfect competition theories of J. Robinson (England); the works of R. Triffin (USA) began to take into account the more complicated character of real market conditions, such as the interdependence of economic sectors, the changes in demand and in assets, different kinds of duopoly and market institutions, the scope of information about the market, and so on. REFERENCES Chamberlin, E. H. Teoriia monopolisticheskoi konkurentsii. Moscow, 1959. (Translated from English.) James, E. Istoriia ekonomicheskoi mysli XX v. Moscow, 1959. (Translated from French.) Seligman, B. Osnovnye techeniia sovremennoi ekonomicheskoi mysli. Moscow, 1968. (Translated from English.) Neumann, J., and O. Morgenstern. The Theory of Games and Economic Behavior. Princeton, 1944. IU. A. VASIL’CHUK duopoly Duopoly A situation in which two companies split all or nearly all the market share of a good or service. There are two models for duopoly: the Cournot model and the Bertrand model. In the Cournot model, the two companies assume the output of the other, resulting in greater output than in a monopoly, but less than in a state of perfect competition. This pushes prices lower, but not as low as they would be in perfect competition. In the Bertrand model, the duopolistic companies compete for the lowest possible price, resulting in perfect competition. Both models are applicable in different situations and times and neither expresses duopolistic behavior perfectly. Major examples of duopolies include Pepsi and Coca-Cola in the soft drink market and Microsoft and Apple in the computer operating system market. duopoly a subset of OLIGOPOLY, describing a MARKET situation in which there are only two suppliers. There are a number of models of duopoly markets which fall into two main categories: nonreactive models that do not allow for any anticipation by one firm of his competitor's reaction to either a price or quantity change. For example, in the Bertrand duopoly model, each supplier assumes that his rival will not change price in response to his own initial price cut, and this assumption will encourage him to cut his price in order to increase his sales. Since both firms reason in this way, the price will eventually be driven down to the competitive level (i.e. a NORMAL PROFIT equilibrium). In the Cournot duopoly model, it is quantity not price that is adjusted, with one firm altering its output on the assumption that his rival's output will remain unchanged. Since both firms reason in this way output will eventually be expanded to the point where the firms share the market equally and both secure only normal profits; reactive models that explicitly assume that the two firms recognize that their actions are interdependent and hence will attempt to avoid mutually ruinous forms of rivalry. Also called collusive duopoly Specifically, firms will attempt to maximize their joint profits by establishing agreed prices above the competitive equilibrium price. This can be achieved by informal means such as the acceptance by both duopolists that one of them acts as price leader (see PRICE LEADERSHIP model) or by means of formal COLLUSION between the two duopolists (see CARTEL).
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