Cournot Competition on a Network of Markets and Firms

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Cournot Competition on a Network of Markets and Firms

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Rahmi Ilkiliç (Maastricht University)

Abstract

Suppose markets and firms are connected in a bi-partite network, where firms can only supply to the markets they are connected to. Firms compete a la Cournot and decide how much to supply to each market they have a link with. We assume that markets have linear demand functions and firms have convex quadratic cost functions. We show there exists a unique equilibrium in any given network of firms and markets. We provide a formula which expresses the quantities at an equilibrium as a function of a network centrality measure.

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Paper provided by Fondazione Eni Enrico Mattei in its series Working Papers with number 2009.32.

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Date of creation: May 2009
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Handle: RePEc:fem:femwpa:2009.32

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Find related papers by JEL classification:
C62 - Mathematical and Quantitative Methods - - Mathematical Methods and Programming - - - Existence and Stability Conditions of Equilibrium
C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
D85 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Network Formation
L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms

This paper has been announced in the following NEP Reports:

NEP-ALL-2009-07-28 (All new papers)
NEP-COM-2009-07-28 (Industrial Competition)
NEP-IND-2009-07-28 (Industrial Organization)
NEP-NET-2009-07-28 (Network Economics)

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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.:

Bulow, Jeremy I & Geanakoplos, John D & Klemperer, Paul D, 1985. "Multimarket Oligopoly: Strategic Substitutes and Complements," Journal of Political Economy, University of Chicago Press, vol. 93(3), pages 488-511, June. [Downloadable!] (restricted)
Leo Katz, 1953. "A new status index derived from sociometric analysis," Psychometrika, Springer, vol. 18(1), pages 39-43, March. [Downloadable!] (restricted)
Corominas-Bosch, Margarida, 2004. "Bargaining in a network of buyers and sellers," Journal of Economic Theory, Elsevier, vol. 115(1), pages 35-77, March. [Downloadable!] (restricted)

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