In this note we develop a consistent conjectural variation model that generalizes Bresnahan's (1981) results to a duopoly-duopsony setting. This is the first duopsony model in which firms are constrained to have consistent conjectural variations, and two interesting results emerge. First,...

In spite of its importance to the retail sector, there has been relatively little research on the economics of Christmas Season gift-giving. The one exception is Waldfogel (1993), The Deadweight loss of Christmas, American Economic Review, 83, 1328-1336, who found a substantial amount of...