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Credit: Springer Heidelberg
In his book Marktform und Gleichgewicht, published initially in 1934, Heinrich von Stackelberg presented his groundbreaking leadership model of sequential competition. In a work of great originality and richness, he described and analyzed a market situation in which a leader firm makes the first move, prompting the other firms to follow. This game-theoretic model, now widely known as 'Stackelberg competition,' has had tremendous impact on the theory of the firm and economic analysis in general, and has been used to study decision-making in various fields of business. As the first translation of von Stackelberg's book into English, Market Structure and Equilibrium makes his classic work available in its original form to an English-speaking audience for the very first time.
"I am very pleased about the fact that Heinrich von Stackelberg's book Market Structure and Equilibrium is now available in English. This book is of great importance for the history of economic thought. The 'Stackelberg Solution' can be found in every textbook, and it is interesting to look at the original text in order to see how von Stackelberg himself dealt with it." Reinhard Selten, Nobel Laureate in Economics 1994
"Heinrich von Stackelberg's model of duopoly is a linchpin of the theory of industrial organization. Indeed, this model and those of Augustin Cournot and Joseph Bertrand together constitute the most important historical milestones in our understanding of strategic imperfect competition. It is notable that the Stackelberg model anticipated subgame perfect equilibrium many years before that concept's development in the game theory literature. Suprisingly, no English language version of Stackelberg's masterwork Marktform und Gleichgewicht has previously been available. But, fortunately, Damien Bazin has now given us a splendid translation." Eric S. Maskin, Nobel Laureate in Economics 2007
H. von Stackelberg, Bonn, Germany
Market Structure and Equilibrium
2011. XIV, 134 p. Hardcover. €89,95, $119.00, £81.00
ISBN 978-3-642-12585-0