Compares Stackelberg’s Grundlagen der theoretischen Volkswirtschaftslehre with a standard modern micro-economic textbook. Reveals some confusing shortcomings in the English translation. Focuses on unique peculiarities of Stackelberg’s analysis of the price formation on imperfect markets....

Compares Stackelberg’s Grundlagen der theoretischen Volkswirtschaftslehre with a standard modern micro‐economic textbook. Reveals some confusing shortcomings in the English translation. Focuses on unique peculiarities of Stackelberg’s analysis of the price formation on imperfect markets....

Proposes a model which shows that Stackelberg competition is not necessarily welfare- enhancing compared with Cournot competition. Shows that, although in a simple duopoly model prices in a Stackelberg equilibrium are lower than in a Cournot equilibrium, this is not necessarily true in an...

Proposes a model which shows that Stackelberg competition is not necessarily welfare‐ enhancing compared with Cournot competition. Shows that, although in a simple duopoly model prices in a Stackelberg equilibrium are lower than in a Cournot equilibrium, this is not necessarily true in an...