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Definitions from the Web

Cournot

Description:

Cournot refers to a concept in economics that is named after Augustin Cournot, a 19th-century French mathematician and economist. It is often used to explain the behavior of companies in an oligopoly market where each firm sets its own output level in order to maximize its profits.

Sample Sentences:

As a noun:

1. The Cournot model suggests that companies in an oligopoly market will try to anticipate their competitors' actions in order to make strategic decisions.

2. In a Cournot competition, each firm determines its optimal level of output based on the expected reactions from its rivals.

As a verb:

1. The company decided to Cournot its production by carefully analyzing the market trends and competitors' strategies.

2. It is crucial for businesses to Cournot effectively to maintain a competitive edge in the market.

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