International Trade And Cournot Equilibrium: Existence, Uniqueness And Comparative Statics
AbstractThis paper proves the existence and uniqueness of Cournot equilibrium in models of international trade under oligopoly. The existence of Cournot equilibrium is established without the usual assumption that profit functions are concave. Instead the proof uses a weaker "aggregate concavity" condition. A simple proof is used to establish the uniqueness of the equilibrium. And, the paper considers the implications of the assumptions, used to prove the existence and uniqueness of the equilibrium, on the comparative static results. Copyright 1992 by Blackwell Publishing Ltd and the Board of Trustees of the Bulletin of Economic Research
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Bibliographic InfoPaper provided by University of Warwick, Department of Economics in its series The Warwick Economics Research Paper Series (TWERPS) with number 352.
Length: 18 pages
Date of creation: 1990
Date of revision:
international trade ; economic equilibrium ; economics;
Other versions of this item:
- Collie, David, 1992. "International Trade and Cournot Equilibrium: Existence, Uniqueness and Comparative Statics," Bulletin of Economic Research, Wiley Blackwell, vol. 44(1), pages 55-66, January.
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- Udo Broll & Peter Welzel & Kit Wong, 2009. "Export and Strategic Currency Hedging," Open Economies Review, Springer, vol. 20(5), pages 717-732, November.
- Broll, Udo & Wahl, Jack E. & Wessel, Christoph, 2008. "Export production, hedging exchange rate risk: the duopoly case," Dresden Discussion Paper Series in Economics 06/08, Dresden University of Technology, Faculty of Business and Economics, Department of Economics.
- Guerrazzi, Marco, 2013. "Asymptotic Relations in Cournot’s Quantity Game: Some International Trade Implications - Relazioni asintotiche nel gioco di Cournot: alcune implicazioni per il commercio internazionale," Economia Internazionale / International Economics, Camera di Commercio di Genova, vol. 66(1), pages 47-56.
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"Industrial Concentration, Output, and Trade: An Empirical Exploration,"
2001-15, Department of Economics, University of Calgary, revised 05 Dec 2001.
- Aidan Hollis, 2003. "Industrial Concentration, Output, and Trade: An Empirical Exploration," Review of Industrial Organization, Springer, vol. 22(2), pages 103-119, March.
- Udo Broll & Peter Welzel & Kit Pong Wong, 1999. "Strategic Hedging," Working Paper Series B 1999-04, Friedrich-Schiller-Universität Jena, Wirtschaftswissenschaftliche Fakultïät.
- R Cornes & R Hartley, 2005. "The Geometry of Aggregative Games," The School of Economics Discussion Paper Series 0514, Economics, The University of Manchester.
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