What is the Gini Index

What is the Gini Index?

The Gini index (i.e. the Gini coefficient) is a statistical measure of distribution, developed by Corrado Gini in 1912. In an economic context it is commonly used as an index of economic inequality that measures income or wealth distribution among the population. The index ranges from 0 to 1, although […]

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Difference between Cournot and Bertrand Competition

Difference between Cournot and Bertrand Competition

An oligopoly is a market structure where only a few sellers serve the entire market. Because of their strong position in the market, these firms have the power to influence the price. That means, unlike in a market with perfect competition, they are no longer price takers, but price makers. […]

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