Het duopoliemodel van van der weel

Summary

In a recent article in this journal (1970, pp. 458–490) Van der Weel has developed a duopoly model founded on the thesis that the reaction functions of the duopolists can be derived from the profit maximization hypothesis and that, therefore, the set of equilibrium prices is determined endogeneously. The authors argue that this conception is not justified and that both the static and dynamic versions of the model are based on a reaction pattern in the sense of Launhardt.