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Oligopoly Equilibria “à la Stackelberg” in Pure Exchange Economies

  • Ludovic A. Julien
  • Fabrice Tricou

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

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Article provided by De Boeck Université in its journal Recherches économiques de Louvain.

Volume (Year): 76 (2010)
Issue (Month): 2 ()
Pages: 175-194

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Handle: RePEc:cai:reldbu:rel_762_0175
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  1. d'Aspremont, Claude & Dos Santos Ferreira, Rodolphe & Gerard-Varet, Louis-Andre, 1997. "General Equilibrium Concepts under Imperfect Competition: A Cournotian Approach," Journal of Economic Theory, Elsevier, vol. 73(1), pages 199-230, March.
  2. GABSZEWICZ, Jean & GRAZZINI, Lisa, 2000. "Strategic multilateral exchange and taxes," CORE Discussion Papers 2000063, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  3. Giraud, Gael, 2003. "Strategic market games: an introduction," Journal of Mathematical Economics, Elsevier, vol. 39(5-6), pages 355-375, July.
  4. Cordella, Tito & Gabszewicz, Jean J., 1998. ""Nice" Trivial Equilibria in Strategic Market Games," Games and Economic Behavior, Elsevier, vol. 22(1), pages 162-169, January.
  5. Codognato, Giulio & Gabszewicz, Jean J, 1993. "Cournot-Walras Equilibria in Markets with a Continuum of Traders," Economic Theory, Springer, vol. 3(3), pages 453-64, July.
  6. CODOGNATO, Giulio & GHOSAL, Sayantan, . "Cournot-Nash equilibria in limit exchange economies with complete markets and consistent prices," CORE Discussion Papers RP -1461, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  7. Drew Fudenberg & Jean Tirole, 1991. "Game Theory," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262061414, June.
  8. Busetto, Francesca & Codognato, Giulio & Ghosal, Sayantan, 2008. "Cournot-Walras Equilibrium as a Subgame Perfect Equilibrium," The Warwick Economics Research Paper Series (TWERPS) 837, University of Warwick, Department of Economics.
  9. Jean Tirole, 1988. "The Theory of Industrial Organization," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262200716, June.
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