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Cournot equilibrium without apology: Existence and the Cournot inverse demand function

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  • Grilo, Isabel
  • Mertens, Jean-François

Abstract

In a multi-commodity framework with absence of wealth effects, we prove the existence of equilibrium for Cournot oligopoly, and that the concept is completely non-ambiguous. We also obtain a uniquely defined endogenous inverse demand function, depending only on the competitive sector.

Suggested Citation

  • Grilo, Isabel & Mertens, Jean-François, 2009. "Cournot equilibrium without apology: Existence and the Cournot inverse demand function," Games and Economic Behavior, Elsevier, vol. 65(1), pages 142-175, January.
  • Handle: RePEc:eee:gamebe:v:65:y:2009:i:1:p:142-175
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    1. Simon, Leo K & Zame, William R, 1990. "Discontinuous Games and Endogenous Sharing Rules," Econometrica, Econometric Society, vol. 58(4), pages 861-872, July.
    2. Jones, Larry E, 1984. "A Competitive Model of Commodity Differentiation," Econometrica, Econometric Society, vol. 52(2), pages 507-530, March.
    3. Mas-Colell, Andreu, 1975. "A model of equilibrium with differentiated commodities," Journal of Mathematical Economics, Elsevier, vol. 2(2), pages 263-295.
    4. Rader, Trout, 1972. "Theory of General Economic Equilibrium," Elsevier Monographs, Elsevier, edition 1, number 9780125750400.
    5. d'Aspremont, C & Ferreira, R Dos Santos & Gerard-Varet, L-A, 1991. "Pricing Schemes and Cournotian Equilibria," American Economic Review, American Economic Association, vol. 81(3), pages 666-673, June.
    6. Danilov, V. I. & Sotskov, A. I., 1990. "A generalized economic equilibrium," Journal of Mathematical Economics, Elsevier, vol. 19(4), pages 341-356.
    7. Mertens, J. F., 2003. "The limit-price mechanism," Journal of Mathematical Economics, Elsevier, vol. 39(5-6), pages 433-528, July.
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    1. repec:eee:enepol:v:106:y:2017:i:c:p:148-154 is not listed on IDEAS

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