@inproceedings{oai:kutarr.kochi-tech.ac.jp:00001171,
 author = {WATANABE, Yasuaki},
 book = {Society for Social Management Systems Internet Journal},
 month = {May},
 note = {After the devastating damages of East Japan Earthquake, we investigate the affection of supply in steel. There are several steel companies in Japan such as Nippon Steel Corporation, JFE Steel Corporation, Sumitomo Metal Industries, Ltd and Kobe Steel, Ltd. Namely, steel industries are mainly controlled these four companies. So, we grasp this status as “Oligopoly”. And we also mention this as a homogeneous oligopolistic market. Suppose that the supply level of Nippon Steel Corporation is decreased due to the earthquake. If this situation will occur, how will it affect another steel company's price of the same product? We use the concept of “Conjectural Variation” to resolve this problem. Conjectural variation means the volatility of another companies supply levels which Nippon Steel Corporation will conjecture when Nippon Steel Corporation will decrease (or increase) its supply level. Thus, if each company will determine its supply level to maximize its profit in a homogeneous oligopolistic market, the price level is written by the three factors such as elasticity of price, marginal cost and conjectural variation. Here, we add three suppositions. Firstly, price elasticity of a certain product is constant temporarily regardless of the total demand level. Secondly, marginal cost in each company is constant regardless of the production level within its production capacity. Thirdly, conjectural variation in each company is constant in each fiscal term. Based on former three suppositions, price will be determined prior to demand level. Finally, we investigate how conjectural variation's change will affect the price level. The result is that if a company's marginal cost is minimized, the increase (or decrease) of the company's conjectural variation will occur the increase (or decrease) of price level under the conditions that given another situations are equal.},
 publisher = {Society for Social Management Systems},
 title = {Application of Conjectural Variation to Japanese Steel Industries},
 volume = {8},
 year = {2012}
}