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Imperfect Competition ˆ la Negishi also with Fixed Costs

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Author Info
P•erre DEHEZ (UNIVERSITE CATHOLIQUE DE LOUVAIN, Institut de Recherches Economiques et Sociales (IRES))
Jacques H. DREZE (UNIVERSITE CATHOLIQUE DE LOUVAIN, Center for Operations Research and Econometrics (CORE))
Takashi SUZUKI (Meiji-Gakuin University - Tokyo - JAPAN)

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Abstract

The paper studies equilibria for economies with imperfect competition and non-convex technologies. Following Negishi, firms maximise profits under downward-sloping perceived demand functions. NegishiÕs assumptions, in particular the assumption of a single monopolistic competitor in each market, are relaxed. Existence of equilibria is obtained, under otherwise standard assumptions, for productions sets defined in each firm by the union of a convex technology and a technology subject to fixed costs. In the light of a counterexample, it is assumed that fixed factors are distinct from variable factors. Technically, the proof rests on pricing rules.

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Publisher Info
Paper provided by Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES) in its series Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) with number 2002044.

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Length: 30
Date of creation: 01 Dec 2002
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Handle: RePEc:ctl:louvir:2002044

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Related research
Keywords: Imperfect competition; fixed cost; general equilibrium; perceived demand; pricing rules;

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Find related papers by JEL classification:
D43 - Microeconomics - - Market Structure and Pricing - - - Oligopoly and Other Forms of Market Imperfection
D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies
L13 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Oligopoly and Other Imperfect Markets

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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.:
  1. Blanchard, Olivier Jean & Kiyotaki, Nobuhiro, 1987. "Monopolistic Competition and the Effects of Aggregate Demand," American Economic Review, American Economic Association, vol. 77(4), pages 647-66, September. [Downloadable!] (restricted)
  2. Bonnisseau, Jean-Marc & Cornet, Bernard, 1988. "Existence of equilibria when firms follow bounded losses pricing rules," Journal of Mathematical Economics, Elsevier, vol. 17(2-3), pages 119-147, April. [Downloadable!] (restricted)
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  1. Jacques H., DREZE & Jean-Jacques, HERINGS, 2007. "Kinky perceived demand curves and Keynes-Negishi equilibria," Discussion Papers (ECON - Département des Sciences Economiques) 2007037, Université catholique de Louvain, Département des Sciences Economiques. [Downloadable!]
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