Our context involves N Cournot oligopolists producing M products at constant marginal costs when preferences are quasi-linear. We identify relationships between second moments of unit costs and second moments of firm-level production. For example, a larger variance in unit costs of a product...

This Paper endogenizes the choice between import tariffs and quotas of two policy active countries in a duopsonistic world market. Without uncertainty, import quotas are welfare superior to import tariffs in equilibrium. If two importers can precommit to a type of instrument before deciding the...