PRICE UNCERTAINTY AND PRODUCTION‐LOCATION DECISIONS UNDER FREE ENTRY OLIGOPOLY*
研究了自由进入寡头垄断市场中，对称库诺特竞争企业在价格不确定性下的选址与产出决策，发现需求函数起核心作用，且固定成本、平均价格和价格波动的影响与风险厌恶程度无关。
ABSTRACT. This paper departs from earlier work on location theory under uncertainty by considering an oligopoly case where the symmetric Cournot‐Nash equilibrium of imperfectly competitive and identical firms are examined. It will be shown that once a Cournot competitive equilibrium is introduced, the demand function plays a central role in the choice of location, and the effects of changes in fixed costs, mean product price and price variability on the firm's optimum location and output are independent of absolute and/or relative risk aversion. These striking results are in sharp contrast with the well‐known results obtained in previous contributions to the location literature.