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Trade fragmentation and coordination in bilateral oligopolies

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Author Info

  • BLOCH, Francis

    (IRES, Department of Economics, Université catholique de Louvain (UCL), 1348 Louvain la Neuve, Belgium)

  • FERRER, Hélène

    (IRES, Department of Economics, Université catholique de Louvain (UCL), 1348 Louvain la Neuve, Belgium)

Abstract

This paper studies a strategic market game where agents fragment their bids on different markets. Simple conditions for existence of an interior equilibrium point are provided. In equilibrium, all agents are active on the same markets and prices are identical across markets, so that all equilibria are equivalent to an equilibrium where all agents trade on a single market.

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File URL: http://alfresco.uclouvain.be/alfresco/download/attach/workspace/SpacesStore/e3d6dbda-b593-49e4-aa70-1d65020788f4/coredp_1999_08.pdf
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Bibliographic Info

Paper provided by Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) in its series CORE Discussion Papers with number 1999008.

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Date of creation: 07 Jan 1999
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Handle: RePEc:cor:louvco:1999008

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  1. Bloch, Francis & Ghosal, Sayantan, 1997. "Stable Trading Structures in Bilateral Oligopolies," Journal of Economic Theory, Elsevier, vol. 74(2), pages 368-384, June.
  2. 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).
  3. 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.
  4. Cordella, Tito & Gabszewicz, Jean J., 1998. ""Nice" Trivial Equilibria in Strategic Market Games," Games and Economic Behavior, Elsevier, vol. 22(1), pages 162-169, January.
  5. Martin Shubik, 1977. "A Theory of Money and Financial Institutions," Cowles Foundation Discussion Papers 462, Cowles Foundation for Research in Economics, Yale University.
  6. 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.
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Cited by:
  1. Buchner, Barbara & Carraro, Carlo, 2005. "Regional and Sub-Global Climate Blocs. A Game-Theoretic Perspective on Bottom-up Climate Regimes," CEPR Discussion Papers 5034, C.E.P.R. Discussion Papers.
  2. Carlo Carraro, 2006. "Incentives and Institutions. A Bottom-up Approach to Climate Policy," Working Papers 2006_49, Department of Economics, University of Venice "Ca' Foscari".

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