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Noncooperative oligopoly in economies with infinitely many commodities and traders

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  • Ghosal, Sayantan
  • Tonin, Simone

Abstract

In this paper, we extend the noncooperative analysis of multilateral oligopoly to exchange economies with infinitely many commodities and trader types where exchange is modelled using a strategic market game with commodity money and trading posts. We prove the existence of an “active” Cournot–Nash equilibrium and its convergence to a Walras equilibrium when the economy is replicated.

Suggested Citation

  • Ghosal, Sayantan & Tonin, Simone, 2018. "Noncooperative oligopoly in economies with infinitely many commodities and traders," Games and Economic Behavior, Elsevier, vol. 109(C), pages 184-200.
    • Handle: RePEc:eee:gamebe:v:109:y:2018:i:c:p:184-200
    DOI: 10.1016/j.geb.2017.12.015
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    More about this item

    Keywords

    Noncooperative oligopoly; Strategic market games; Infinite economies;
    All these keywords.

    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • 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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