And there’s the kinked‐demand theory of oligopoly that ... In this case, the market demand curve that each oligopolist faces is determined by the output and price decisions of the other ...

The nonlinear Phillips curve in our model arises due to a quasi-kinked demand schedule for goods produced by firms. Our model can jointly account for the modest decline in inflation during the Great ...

Explain the significance of interdependence in oligopoly markets using, for example, game theory and the kinked demand curve. Analyse how the prisoner’s dilemma can be applied to nations ...