Consistent conjectural variations equilibria in strategic multilateral exchange
In this note, we address the problem of determining which conjectural variations general equilibria are consistent in strategic multilateral exchange. We therefore consider expectations in a simple conjectural general equilibrium model of a pure exchange economy under strategic interactions. Three results are obtained. Firstly, the competitive equilibrium is a locally consistent conjectural general equilibrium. Secondly, the symmetric Cournot oligopoly equilibrium is not a locally consistent conjectural general equilibrium. Thirdly, the symmetric collusive equilibrium is a locally consistent conjectural general equilibrium.
Volume (Year): 29 (2009)
Issue (Month): 1 ()
|Contact details of provider:|| |
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Dixit, Avinash K, 1986. "Comparative Statics for Oligopoly," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 27(1), pages 107-22, February.
- Codognato, Giulio & Gabszewicz, Jean J, 1993.
"Cournot-Walras Equilibria in Markets with a Continuum of Traders,"
Springer, vol. 3(3), pages 453-64, July.
- CODOGNATO, Giulio & GABSZEWICZ, Jean J., . "Cournot-Walras equilibria in markets with a continuum of traders," CORE Discussion Papers RP -1041, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Dockner, Engelbert J, 1992. "A Dynamic Theory of Conjectural Variations," Journal of Industrial Economics, Wiley Blackwell, vol. 40(4), pages 377-95, December.
- Bresnahan, Timothy F, 1981. "Duopoly Models with Consistent Conjectures," American Economic Review, American Economic Association, vol. 71(5), pages 934-45, December.
- 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.
When requesting a correction, please mention this item's handle: RePEc:ebl:ecbull:eb-08d40041. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (John P. Conley)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.