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Mixed motives in a Cournot game

Author

Listed:
  • Thomas Riechmann

    () (University of Magdeburg, FEMM)

Abstract

The paper analyzes a Cournot model with two types of firms: Maximizers of profits and maximizers of relative payoffs. It is shown that the equilibrium is located somewhere between the regular Cournot-Nash equilibrium and the competitive Walrasian (or Bertrand-) equilibrium.

Suggested Citation

  • Thomas Riechmann, 2006. "Mixed motives in a Cournot game," Economics Bulletin, AccessEcon, vol. 4(29), pages 1-8.
  • Handle: RePEc:ebl:ecbull:eb-06d40004
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    File URL: http://www.accessecon.com/pubs/EB/2006/Volume4/EB-06D40004A.pdf
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    References listed on IDEAS

    as
    1. Ernst Fehr & Klaus M. Schmidt, 1999. "A Theory of Fairness, Competition, and Cooperation," The Quarterly Journal of Economics, Oxford University Press, vol. 114(3), pages 817-868.
    2. Axel Ockenfels & Gary E. Bolton, 2000. "ERC: A Theory of Equity, Reciprocity, and Competition," American Economic Review, American Economic Association, vol. 90(1), pages 166-193, March.
    3. Fernando Vega-Redondo, 1997. "The Evolution of Walrasian Behavior," Econometrica, Econometric Society, vol. 65(2), pages 375-384, March.
    4. Vriend, Nicolaas J., 2000. "An illustration of the essential difference between individual and social learning, and its consequences for computational analyses," Journal of Economic Dynamics and Control, Elsevier, vol. 24(1), pages 1-19, January.
    5. Thomas Riechmann, 2006. "Cournot or Walras? Long-Run Results in Oligopoly Games," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 162(4), pages 702-720, December.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Kopel, Michael & Lamantia, Fabio & Szidarovszky, Ferenc, 2014. "Evolutionary competition in a mixed market with socially concerned firms," Journal of Economic Dynamics and Control, Elsevier, vol. 48(C), pages 394-409.
    2. Kangsik Choi & Yuanzhu Lu, 2009. "A Model Of Endogenous Payoff Motives And Endogenous Timing In A Mixed Duopoly ," Australian Economic Papers, Wiley Blackwell, vol. 48(3), pages 203-223, September.
    3. Alessandra Chirco & Caterina Colombo & Marcella Scrimitore, 2013. "Quantity competition, endogenous motives and behavioral heterogeneity," Theory and Decision, Springer, vol. 74(1), pages 55-74, January.
    4. Kangsik Choi, 2006. "Mixed Motives of Simultaneous-move Games in a Mixed Duopoly," Economics Bulletin, AccessEcon, vol. 12(14), pages 1-7.
    5. repec:eee:ecolec:v:149:y:2018:i:c:p:129-139 is not listed on IDEAS
    6. repec:eee:quaeco:v:67:y:2018:i:c:p:1-7 is not listed on IDEAS

    More about this item

    Keywords

    Bertrand Equilibrium;

    JEL classification:

    • D4 - Microeconomics - - Market Structure, Pricing, and Design

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