Accessibility navigation


Admissible conjectures and consistent conjectures

Holloway, G. (1993) Admissible conjectures and consistent conjectures. American Journal of Agricultural Economics, 75 (5). p. 1309. ISSN 0002-9092

Full text not archived in this repository.

It is advisable to refer to the publisher's version if you intend to cite from this work. See Guidance on citing.

To link to this item DOI: 10.1093/ajae/75.5.1295

Abstract/Summary

Firms' conjectures are consistent if their ex post behavior rationalizes their ex ante beliefs. Admissible conjectures are those that satisfy the necessary conditions for consistency. Competition is inadmissible unless aggregate output is stationary. Relaxing this restriction, admissibility eliminates Cournot behavior and constrains conduct to be collusive

Item Type:Article
Refereed:Yes
Divisions:Faculty of Life Sciences > School of Agriculture, Policy and Development > Economic and Social Sciences Division > Food Economics and Marketing (FEM)
ID Code:30680
Publisher:Oxford University Press

University Staff: Request a correction | Centaur Editors: Update this record

Page navigation