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General Oligopolies

In: Nonlinear Oligopolies

Author

Listed:
  • Gian-Italo Bischi

    (Università di Urbino “Carlo Bo”)

  • Carl Chiarella

    (University of Technology, Sydney)

  • Michael Kopel

    (University of Graz Institute of Organization and Economics of Institutions University of Graz)

  • Ferenc Szidarovszky

    (University of Arizona)

Abstract

In the previous chapter we analyzed concave oligopolies where the best response functions were monotonic and therefore the local and global analysis of the corresponding dynamic processes were relatively simple. The examples discussed there have allowed the reader to become familiar with the major concepts and methods that we shall use in the rest of the book. If we drop the simplifying assumptions of the previous chapter then more complex dynamics may arise. In this chapter we will present a collection of such models. We initiate our discussion in Sect. 3.1 where we consider oligopolies with isoelastic price functions and dynamics in discrete time. We give a detailed analysis of local and global stability of some particular examples. In Sect. 3.2 we return to the issue of oligopolies with cost externalities, which may display multiple interior Nash equilibria. The global analysis of some specific examples indicates how the oligopoly may converge to particular equilibria.

Suggested Citation

  • Gian-Italo Bischi & Carl Chiarella & Michael Kopel & Ferenc Szidarovszky, 2010. "General Oligopolies," Springer Books, in: Nonlinear Oligopolies, chapter 0, pages 103-140, Springer.
    • Handle: RePEc:spr:sprchp:978-3-642-02106-0_3
    DOI: 10.1007/978-3-642-02106-0_3
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