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Existence of Unique Equilibrium in Cournot Mixed Oligopoly

Author

Listed:
  • Koji Okuguchi

    (Tokyo Metropolitan University, Japan)

  • Takeshi Yamazaki

    (��Department of Economics, Niigata University, Japan)

Abstract

The properties of Cournot mixed oligopoly consisting of one public firm and one or more than one private firms have mostly been analyzed for simple cases on the basis of numerical calculations of the equilibrium values for a linear market demand function and linear or quadratic cost functions. In this paper, after proving the existence of a unique equilibrium in Cournot mixed oligopoly under general conditions on the market demand and each firm’s cost function, we derive conditions ensuring the existence of a unique Nash equilibrium for the mixed oligopoly where one public firm and at least one of the private firms are active in a general model of Cournot mixed oligopoly with one public firm and several private firms.

Suggested Citation

  • 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.
    • Handle: RePEc:wsi:igtrxx:v:20:y:2018:i:03:n:s0219198917500359
    DOI: 10.1142/S0219198917500359
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    More about this item

    Keywords

    Mixed oligopoly; Cournot; equilibrium; existence;
    All these keywords.

    JEL classification:

    • L13 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Oligopoly and Other Imperfect Markets
    • D43 - Microeconomics - - Market Structure, Pricing, and Design - - - Oligopoly and Other Forms of Market Imperfection
    • H32 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - Firm

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