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General Equilibrium with Imperfect Competition

Author

Listed:
  • Egbert Dierker
  • Hildegard Dierker

Abstract

The objective of a firm is not well-defined if firms have market power. We present an example of Cournot-Walras competition in order to shed light on this problem and to motivate the concept of real wealth maximization that B. Grodal and E. Dierker have proposed asthe firm's objective. (JEL: D21, D42, D43, L13, L21) (c) 2006 by the European Economic Association.

Suggested Citation

  • Egbert Dierker & Hildegard Dierker, 2006. "General Equilibrium with Imperfect Competition," Journal of the European Economic Association, MIT Press, vol. 4(2-3), pages 436-445, 04-05.
    • Handle: RePEc:tpr:jeurec:v:4:y:2006:i:2-3:p:436-445
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    Citations

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    Cited by:

    1. David R. Collie, 2019. "Taxation under oligopoly in a general equilibrium setting," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 21(4), pages 738-753, August.
    2. Koska, Onur A. & Stähler, Frank, 2014. "Trade and imperfect competition in general equilibrium," Journal of International Economics, Elsevier, vol. 94(1), pages 157-168.
    3. Stefano Demichelis & Klaus Ritzberger, 2011. "A general equilibrium analysis of corporate control and the stock market," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 46(2), pages 221-254, February.
    4. Koska, Onur A. & Stähler, Frank, 2015. "Factor price differences in a general equilibrium model of trade and imperfect competition," Research in Economics, Elsevier, vol. 69(2), pages 248-259.
    5. Hervé Crès & Mich Tvede, 2023. "Corporate self-regulation of imperfect competition," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 75(4), pages 1181-1205, May.
    6. Vincent Boitier, 2023. "Ownership structure and profit maximization in general equilibrium models of monopolistic competition," Economics and Business Letters, Oviedo University Press, vol. 12(1), pages 85-90.

    More about this item

    JEL classification:

    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
    • D42 - Microeconomics - - Market Structure, Pricing, and Design - - - Monopoly
    • D43 - Microeconomics - - Market Structure, Pricing, and Design - - - Oligopoly and Other Forms of Market Imperfection
    • L13 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Oligopoly and Other Imperfect Markets
    • L21 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Business Objectives of the Firm

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