Advanced Search
MyIDEAS: Login

Noncooperative oligopoly in markets with a continuum of traders

Contents:

Author Info

  • Busetto, Francesca
  • Codognato, Giulio
  • Ghosal, Sayantan

Abstract

We show the existence of a pure strategy Cournot-Nash equilibrium for a model of noncooperative exchange where large traders, represented as atoms, and small traders, represented by an atomless part, are allowed to buy and sell all commodities.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://www.sciencedirect.com/science/article/B6WFW-50FGY7H-1/2/a9943d90a937ea2b384a2ce5ccaadf51
Download Restriction: Full text for ScienceDirect subscribers only

As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

Bibliographic Info

Article provided by Elsevier in its journal Games and Economic Behavior.

Volume (Year): 72 (2011)
Issue (Month): 1 (May)
Pages: 38-45

as in new window
Handle: RePEc:eee:gamebe:v:72:y:2011:i:1:p:38-45

Contact details of provider:
Web page: http://www.elsevier.com/locate/inca/622836

Related research

Keywords: Noncooperative oligopoly Markets Continuum of traders Atoms Atomless part;

Other versions of this item:

Find related papers by JEL classification:

References

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
as in new window
  1. GABSZEWICZ, Jean & MICHEL, Philippe, 1992. "Oligopoly equilibria in exchange economies," CORE Discussion Papers 1992047, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  2. Dubey, Pradeep & Shapley, Lloyd S., 1994. "Noncooperative general exchange with a continuum of traders: Two models," Journal of Mathematical Economics, Elsevier, vol. 23(3), pages 253-293, May.
  3. 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.
  4. CODOGNATO, Giulio & GABSZEWICZ, Jean J., . "Cournot-Walras equilibria in markets with a continuum of traders," CORE Discussion Papers RP -1041, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  5. Shitovitz, Benyamin, 1973. "Oligopoly in Markets with a Continuum of Traders," Econometrica, Econometric Society, vol. 41(3), pages 467-501, May.
  6. d'ASPREMONT, C. & DOS SANTOS FERREIRA, R. & ÉRARD-VARET, L.-A., . "General equilibrium concepts under imperfect competition: a Cournotian approach," CORE Discussion Papers RP -1259, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  7. John Roberts & Hugo Sonnenschein, 1976. "On the Foundations of the Theory of Monopolistic Competition," Discussion Papers 169, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  8. Rabah Amir & Siddhartha Sahi & Martin Shubik, 1986. "A Strategic Market Game with Complete Markets," Cowles Foundation Discussion Papers 814R, Cowles Foundation for Research in Economics, Yale University, revised Sep 1987.
  9. CODOGNATO, Giulio & GHOSAL, Sayantan, . "Cournot-Nash equilibria in limit exchange economies with complete markets and consistent prices," CORE Discussion Papers RP -1461, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  10. Roberts, Kevin, 1980. "The limit points of monopolistic competition," Journal of Economic Theory, Elsevier, vol. 22(2), pages 256-278, April.
  11. Lahmandi-Ayed, R, 1996. "Oligopoly Equilibria in Exchange Economies : Limit Theorems," Papiers d'Economie Mathématique et Applications 96.07, Université Panthéon-Sorbonne (Paris 1).
  12. Jean-Marc Bonnisseau & Michael Florig, 2003. "Existence and optimality of oligopoly equilibria in linear exchange economies," Economic Theory, Springer, vol. 22(4), pages 727-741, November.
  13. Shapley, Lloyd S & Shubik, Martin, 1977. "Trade Using One Commodity as a Means of Payment," Journal of Political Economy, University of Chicago Press, vol. 85(5), pages 937-68, October.
  14. Artstein, Zvi, 1979. "A note on fatou's lemma in several dimensions," Journal of Mathematical Economics, Elsevier, vol. 6(3), pages 277-282, December.
  15. Peck, James & Shell, Karl & Spear, Stephen E., 1992. "The market game: existence and structure of equilibrium," Journal of Mathematical Economics, Elsevier, vol. 21(3), pages 271-299.
  16. Okuno, Masahiro & Postlewaite, Andrew & Roberts, John, 1980. "Oligopoly and Competition in Large Markets," American Economic Review, American Economic Association, vol. 70(1), pages 22-31, March.
  17. Postlewaite, A & Schmeidler, David, 1978. "Approximate Efficiency of Non-Walrasian Nash Equilibria," Econometrica, Econometric Society, vol. 46(1), pages 127-35, January.
  18. Busetto, Francesca & Codognato, Giulio & Ghosal, Sayantan, 2008. "Cournot-Walras Equilibrium as a Subgame Perfect Equilibrium," The Warwick Economics Research Paper Series (TWERPS) 837, University of Warwick, Department of Economics.
  19. Benyamin Shitovitz, 1997. "A comparison between the core and the monopoly solutions in a mixed exchange economy," Economic Theory, Springer, vol. 10(3), pages 559-563.
Full references (including those not matched with items on IDEAS)

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
  1. Chatterji, S. & Ghosal, S., 2013. "Liquidity, moral hazard and bank crises," SIRE Discussion Papers 2013-85, Scottish Institute for Research in Economics (SIRE).
  2. Julien, Ludovic A., 2013. "On Stackelberg competition in strategic multilateral exchange," Research in Economics, Elsevier, vol. 67(1), pages 59-75.
  3. Busetto, Francesca & Codognato, Giulio & Ghosal, Sayantan, 2012. "Noncooperative Oligopoly in Markets with a Continuum of Traders: A Limit Theorem," The Warwick Economics Research Paper Series (TWERPS) 994, University of Warwick, Department of Economics.
  4. Francesca Busetto & Giulio Codognato & Sayantan Ghosal, . "Noncooperative oligopoly in markets with a continuum of traders: a limit theorem a la Cournot," Working Papers 2014_01, Business School - Economics, University of Glasgow.
  5. David Mayer-Foulkes, 2011. "Vulnerable Markets," DEGIT Conference Papers c016_040, DEGIT, Dynamics, Economic Growth, and International Trade.
  6. Perets, Hovav & Shitovitz, Benyamin & Spiegel, Menahem, 2012. "Trading equilibrium in a public good economy with smooth preferences and a mixed measure space of consumers," Journal of Mathematical Economics, Elsevier, vol. 48(3), pages 163-169.

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:eee:gamebe:v:72:y:2011:i:1:p:38-45. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Zhang, Lei).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.