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Optimal Resource Allocation In General Cournotcompetitive Equilibrium

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  • Ervik, Inger Sommerfelt

    ()
    (Department of Economics, University of Bergen)

  • Soegaard, Christian

    ()
    (Department of Economics, University of Warwick)

Abstract

Conventional economic theory stipulates that output in Cournot competition is too low relative to that which is attained in perfect competition. We revisit this result in a General Cournot-competitive Equilibrium model with two industries that di er only in terms of productivity. We show that in general equilibrium, the more ecient industry produces too little and the less ecient industry produces too much compared to an optimal scenario with perfect competition.

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Bibliographic Info

Paper provided by University of Bergen, Department of Economics in its series Working Papers in Economics with number 05/13.

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Length: 9 pages
Date of creation: 20 Jun 2013
Date of revision:
Handle: RePEc:hhs:bergec:2013_005

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Postal: Institutt for √łkonomi, Universitetet i Bergen, Postboks 7802, 5020 Bergen, Norway
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Web page: http://www.uib.no/econ/en
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Keywords: Cournot oligopoly; GOLE (General Oligopolistic Equilibrium); industrial policy;

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  1. Dixit, Avinash K. & Grossman, Gene M., 1986. "Targeted export promotion with several oligopolistic industries," Journal of International Economics, Elsevier, vol. 21(3-4), pages 233-249, November.
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