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Oligopoly Equilibria “à la Stackelberg” in Pure Exchange Economies

Author

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  • Ludovic A. Julien
  • Fabrice Tricou

Abstract

This paper introduces two equilibrium concepts which extend the notion of Stackelberg competition to cover a general equilibrium framework. From the benchmarks of Cournot-Walras economies and of strategic market games, the introduction of an active leader modifies the working of market power and the configuration of strategic interactions. In the context of a simple pure exchange economy, asymptotic identification and welfare results are thus obtained, about Stackelberg general equilibria, compared to Cournot general equilibria and to the competitive equilibrium. JEL Classification : D43, D51

Suggested Citation

  • Ludovic A. Julien & Fabrice Tricou, 2010. "Oligopoly Equilibria “à la Stackelberg” in Pure Exchange Economies," Recherches économiques de Louvain, De Boeck Université, vol. 76(2), pages 175-194.
    • Handle: RePEc:cai:reldbu:rel_762_0175
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    Cited by:

    1. Ludovic A. Julien & Fabrice Tricou, 2008. "Market Price Mechanisms and Stackelberg General Equilibria," Working Papers hal-04140726, HAL.
    2. Julien, Ludovic A., 2013. "On Stackelberg competition in strategic multilateral exchange," Research in Economics, Elsevier, vol. 67(1), pages 59-75.
    3. Ludovic A. Julien, 2017. "Hierarchical competition and heterogeneous behavior in noncooperative oligopoly markets," Working Papers hal-04141649, HAL.
    4. Ludovic A. Julien & Olivier Musy, 2015. "A Review of Heinrich von Stackelberg's Book: ‘Market Structure and Equilibrium’," Australian Economic Papers, Wiley Blackwell, vol. 54(1), pages 52-60, March.

    More about this item

    Keywords

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    JEL classification:

    • D43 - Microeconomics - - Market Structure, Pricing, and Design - - - Oligopoly and Other Forms of Market Imperfection
    • D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies

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