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Global stability of unique Nash equilibrium in Cournot oligopoly and rent-seeking game

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  • Okuguchi, Koji
  • Yamazaki, Takeshi

Abstract

A sufficient condition is derived for the global stability of a unique interior Nash equilibrium in an aggregative game. The condition is applied to investigate the global stability of the Nash-Cournot equilibrium in Cournot oligopoly without product differentiation and that of the Nash equilibrium in rent-seeking games.

Suggested Citation

  • Okuguchi, Koji & Yamazaki, Takeshi, 2008. "Global stability of unique Nash equilibrium in Cournot oligopoly and rent-seeking game," Journal of Economic Dynamics and Control, Elsevier, vol. 32(4), pages 1204-1211, April.
    • Handle: RePEc:eee:dyncon:v:32:y:2008:i:4:p:1204-1211
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    Cited by:

    1. Tingfa Zhang & Huaying Qin & Weishuang Xu, 2022. "Environmental Regulation, Greenwashing Behaviour, and Green Governance of High-Pollution Enterprises in China," IJERPH, MDPI, vol. 19(19), pages 1-22, October.
    2. Andreas M. Hefti, 2013. "Local contraction-stability and uniqueness," ECON - Working Papers 112, Department of Economics - University of Zurich.
    3. Roy, Sunanda & Sabarwal, Tarun, 2012. "Characterizing stability properties in games with strategic substitutes," Games and Economic Behavior, Elsevier, vol. 75(1), pages 337-353.
    4. Colombo, Luca & Labrecciosa, Paola, 2013. "On the convergence to the Cournot equilibrium in a productive asset oligopoly," Journal of Mathematical Economics, Elsevier, vol. 49(6), pages 441-445.
    5. Richard Cornes & Luciana C. Fiorini & Wilfredo L. Maldonado, 2021. "Expectational stability in aggregative games," Journal of Evolutionary Economics, Springer, vol. 31(1), pages 235-249, January.
    6. Koji Okuguchi, 2012. "General Analysis of Cournot Mixed Oligopoly with Partial Privatization," Eurasian Economic Review, Springer;Eurasia Business and Economics Society, vol. 2(1), pages 48-62, June.
    7. Luis C. Corchón, 2021. "Aggregative games," SERIEs: Journal of the Spanish Economic Association, Springer;Spanish Economic Association, vol. 12(1), pages 49-71, March.
    8. Hefti, Andreas, 2016. "On the relationship between uniqueness and stability in sum-aggregative, symmetric and general differentiable games," Mathematical Social Sciences, Elsevier, vol. 80(C), pages 83-96.
    9. Karafyllis, Iasson & Jiang, Zhong-Ping & Athanasiou, George, 2010. "Nash Equilibrium and Robust Stability in Dynamic Games: A Small-Gain Perspective," MPRA Paper 26890, University Library of Munich, Germany, revised 23 Sep 2010.
    10. Akio Matsumoto & Ferenc Szidarovszky, 2022. "Stability of dynamic asymmetric contests with endogenous prizes," Journal of Economic Interaction and Coordination, Springer;Society for Economic Science with Heterogeneous Interacting Agents, vol. 17(1), pages 29-40, January.
    11. Mamada, Robert & Perrings, Charles, 2020. "The effect of emission charges on output and emissions in dynamic Cournot duopoly," Economic Analysis and Policy, Elsevier, vol. 66(C), pages 370-380.
    12. Koji Okuguchi & Takeshi Yamazaki, 2018. "Existence of Unique Equilibrium in Cournot Mixed Oligopoly," International Game Theory Review (IGTR), World Scientific Publishing Co. Pte. Ltd., vol. 20(03), pages 1-13, September.
    13. Awi Federgruen & Ming Hu, 2021. "Technical Note—Global Robust Stability in a General Price and Assortment Competition Model," Operations Research, INFORMS, vol. 69(1), pages 164-174, January.
    14. Xiuqin Yang & Feng Liu & Hua Wang, 2023. "Complex Dynamic Analysis for a Rent-Seeking Game with Political Competition and Policymaker Costs," Mathematics, MDPI, vol. 11(21), pages 1-18, November.
    15. Takeshi Yamazaki, 2016. "On the Works of Professor Koji Okuguchi," Springer Series in Game Theory, in: Pierre von Mouche & Federico Quartieri (ed.), Equilibrium Theory for Cournot Oligopolies and Related Games, pages 7-13, Springer.

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