Everything about Heinrich Freiherr Von Stackelberg totally explained
Heinrich Freiherr von Stackelberg (
October 31,
1905 -
October 12,
1946) was a
German economist who contributed to
game theory and
industrial organization and is known for the
Stackelberg leadership model.
Biography
Stackelberg was born in
Moscow into a Baltic-German family of nobility from Estonia. His mother was an Argentinian of Spanish descent. After the
October Revolution the family fled to Germany, first to
Ratibor and later to
Cologne. He studied economics and mathematics at the
University of Cologne as an undergraduate. He graduated in 1927 with a thesis on the
Quasi-rent in
Alfred Marshalls work (
German:
Die Quasirente bei Alfred Marshall). He continued his studies as a Ph.D. student in economics under Erwin von Beckerath. He graduated in 1930 with a dissertation on cost theory (
German:
Die Grundlagen einer reinen Kostentheorie), which was published in 1932 in Vienna. In 1934 he finished his
habilitation on market structure and equilibrium (
German:
Marktform und Gleichgewicht).
After his habilitation he became a lecturer at the University of Cologne. After one semester he accepted a position at the
University of Berlin where he taught until 1941. In 1941, Stackelberg became
professor of economics at the
University of Bonn. In 1944, Stackelberg left Germany for
Spain, where he became a visiting professor at the
Complutense University of Madrid. He died of
lymphoma in 1946. Stackelberg was a member of the
NSDAP since 1931 and a
Scharführer in the
SS since 1933.
Research
The
Stackelberg leadership model is a model of a
duopoly. In a standard Stackelberg duopoly situation there are two firms in a market. The number of firms is restricted to two by assuming barriers to entry. Each firm is taking into account its competitors decision on the quantity produced. Unlike in the
Cournot game firms act sequentially, with the
leader choosing a quantity first. The
follower observes the decision of the
leader and chooses his quantity.
There are some further constraints upon the sustaining of a Stackelberg equilibrium. The leader must know
ex ante that the follower observes his action. The follower must have no means of committing to a future non-Stackelberg follower action and the leader must know this. Indeed, if the 'follower' could commit to a Stackelberg leader action and the 'leader' knew this, the leader's best response would be to play a Stackelberg follower action.
More generally, in a
Stackelberg game one player moves before the other player, which can provide either a first-mover advantage or a first-mover disadvantage, depending on the specific assumptions that are made in the game. Other well-known games are the
Bertrand game and the
Cournot game. The
Nash equilibrium plays an important role in solving the Stackelberg game and other games.
See also Stackelberg competition.
Publications
- Grundlagen einer reinen Kostentheorie (Foundations of Cost Theory), Vienna, 1932
- Marktform und Gleichgewicht (Market Structure and Equilibrium), Vienna, 1934
- Grundlagen der theoretischen Volkswirtschaftslehre (Foundations of Economic Theory), Berne, 1948
Further Information
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