Imperfect Competition and the Firm: Some Equivalence Results
AbstractThe paper introduces an abstract economy with imperfect competition; the choice of allocation takes place through an abstract mechanism, when produceres choose strategies and the outcome is (a set of) feasible allocations, where the consumers' choices are sustained by the market mechanism at some prices. We show that with a wide range of assumptions on producer preferences, the equilibrium outcome in this economy are ordinary compensated equilibria, possibly in an economy with production externalities.
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Bibliographic InfoPaper provided by University of Copenhagen. Department of Economics in its series Discussion Papers with number 00-01.
Length: 18 pages
Date of creation: May 1999
Date of revision:
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More information through EDIRC
Imperfect Competition; Theory of the Firm; Firm Objectives; Profit Maximization;
Other versions of this item:
- Keiding, H. & Tvede, M., 2000. "Imperfect Competition and the Firm: Some Equivalence Results," Papers 00-01, Carleton - School of Public Administration.
- A1 - General Economics and Teaching - - General Economics
- D5 - Microeconomics - - General Equilibrium and Disequilibrium
- L2 - Industrial Organization - - Firm Objectives, Organization, and Behavior
This paper has been announced in the following NEP Reports:
- NEP-ALL-2001-10-22 (All new papers)
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