Stackelberg’s Model

This model was proposed by the German economist Heinrich Freiherr von Stackelberg. Stackelberg’s Model is primarily an extension of Cournot Model except for the fact that firms choose quantity sequentially rather than simultaneously. Therefore, if it is a duopoly market then one firm is a leader firm and another is a follower firm and they move sequentially where leader firm chooses its output first and only then follower firm chooses its output.