Cournot-Walras equilibrium without profit feedback
AbstractIn this note we consider a general equilibrium model with oligopolistic competition between firms who ignore the feedback effect of their dividend payments on demand. The outcome of this competition coincides with the perfectly competitive equilibrium solution, provided that firms have identical production technologies.
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Bibliographic InfoArticle provided by AccessEcon in its journal Economics Bulletin.
Volume (Year): 4 (2001)
Issue (Month): 9 ()
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Find related papers by JEL classification:
- D5 - Microeconomics - - General Equilibrium and Disequilibrium
- D4 - Microeconomics - - Market Structure and Pricing
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- Jaskold Gabszewicz, Jean & Vial, Jean-Philippe, 1972. "Oligopoly "A la cournot" in a general equilibrium analysis," Journal of Economic Theory, Elsevier, vol. 4(3), pages 381-400, June.
- Silvestre, Joaquim, 1977. "A model of general equilibrium with monopolistic behavior," Journal of Economic Theory, Elsevier, vol. 16(2), pages 425-442, December.
- Hart, Oliver, 1982. "A Model of Imperfect Competition with Keynesian Features," The Quarterly Journal of Economics, MIT Press, vol. 97(1), pages 109-38, February.
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