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Global stability of unique Nash equilibrium in Cournot oligopoly and rent-seeking game

  • Okuguchi, Koji
  • Yamazaki, Takeshi
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    A sufficient condition is derived for the global stability of a unique interior Nash equilibrium in an aggregative game. The condition is applied to investigate the global stability of the Nash-Cournot equilibrium in Cournot oligopoly without product differentiation and that of the Nash equilibrium in rent-seeking games.

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    File URL: http://www.sciencedirect.com/science/article/B6V85-4NTRT06-2/1/00cc73cbe922c197409d524ed3e7e0c8
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    Article provided by Elsevier in its journal Journal of Economic Dynamics and Control.

    Volume (Year): 32 (2008)
    Issue (Month): 4 (April)
    Pages: 1204-1211

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    Handle: RePEc:eee:dyncon:v:32:y:2008:i:4:p:1204-1211
    Contact details of provider: Web page: http://www.elsevier.com/locate/jedc

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    1. Vives, X., 1988. "Nash Equilibrium With Strategic Complementarities," UFAE and IAE Working Papers 107-88, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
    2. al-Nowaihi, A. & Levine, P. L., 1985. "The stability of the cournot oligopoly model: A reassessment," Journal of Economic Theory, Elsevier, vol. 35(2), pages 307-321, August.
    3. Dastidar, Krishnendu Ghosh, 2000. "Is a Unique Cournot Equilibrium Locally Stable?," Games and Economic Behavior, Elsevier, vol. 32(2), pages 206-218, August.
    4. Perez-Castrillo, J David & Verdier, Thierry, 1992. " A General Analysis of Rent-Seeking Games," Public Choice, Springer, vol. 73(3), pages 335-50, April.
    5. Szidarovszky, Ferenc & Okuguchi, Koji, 1997. "On the Existence and Uniqueness of Pure Nash Equilibrium in Rent-Seeking Games," Games and Economic Behavior, Elsevier, vol. 18(1), pages 135-140, January.
    6. Amir, Rabah, 1996. "Cournot Oligopoly and the Theory of Supermodular Games," Games and Economic Behavior, Elsevier, vol. 15(2), pages 132-148, August.
    7. Okuguchi, Koji, 1993. "Unified approach to Cournot models : Oligopoly, taxation and aggregate provision of a pure public good," European Journal of Political Economy, Elsevier, vol. 9(2), pages 233-245, May.
    8. Furth, Dave, 1986. "Stability and instability in oligopoly," Journal of Economic Theory, Elsevier, vol. 40(2), pages 197-228, December.
    9. 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.
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