Anything goes with heterogeneous, but not always with homogeneous oligopoly
AbstractCorchón and Mas-Colell [1996. On the stability of best reply and gradient systems with applications to imperfectly competitive models. Economics Letters 51, 59-65] showed that in heterogeneous oligopoly (almost) everything is possible. In order to obtain a similar result for homogeneous oligopoly, either one needs an externality in the cost function, or the reaction correspondences should fulfill a special condition.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Economic Dynamics and Control.
Volume (Year): 33 (2009)
Issue (Month): 1 (January)
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Cournot oligopoly (In)Stability (Limit)Cycles Morse theory;
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"On the stability of best reply and gradient systems with application to imperfectly competitive models,"
Open Access publications from Universidad Carlos III de Madrid
info:hdl:10016/3812, Universidad Carlos III de Madrid.
- Corchon, Luis C. & Mas-Colell, Andreu, 1996. "On the stability of best reply and gradient systems with applications to imperfectly competitive models," Economics Letters, Elsevier, vol. 51(1), pages 59-65, April.
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