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Computing Cournot-Nash Equilibria

Author

Listed:
  • Charles D. Kolstad

    (University of Illinois, Urbana-Champaign, Illinois)

  • Lars Mathiesen

    (Norwegian School of Economics and Business Administration, Bergen, Norway)

Abstract

This paper examines convergence criteria of an algorithm for the computation of Cournot-Nash economic equilibria. The method is based on formulating the equilibrium problem as that of finding a solution to a nonlinear complementarity problem, solved by sequential linearization and Lemke's algorithm. Conditions for local and global convergence are developed and the technique is applied to homogeneous, segmented and differentiated product markets.

Suggested Citation

  • Charles D. Kolstad & Lars Mathiesen, 1991. "Computing Cournot-Nash Equilibria," Operations Research, INFORMS, vol. 39(5), pages 739-748, October.
    • Handle: RePEc:inm:oropre:v:39:y:1991:i:5:p:739-748
    DOI: 10.1287/opre.39.5.739
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    Cited by:

    1. James B. Bushnell & Erin T. Mansur & Celeste Saravia, 2008. "Vertical Arrangements, Market Structure, and Competition: An Analysis of Restructured US Electricity Markets," American Economic Review, American Economic Association, vol. 98(1), pages 237-266, March.
    2. Hélène Le Cadre, 2019. "On the efficiency of local electricity markets under decentralized and centralized designs: a multi-leader Stackelberg game analysis," Central European Journal of Operations Research, Springer;Slovak Society for Operations Research;Hungarian Operational Research Society;Czech Society for Operations Research;Österr. Gesellschaft für Operations Research (ÖGOR);Slovenian Society Informatika - Section for Operational Research;Croatian Operational Research Society, vol. 27(4), pages 953-984, December.
    3. Brown, David P. & Eckert, Andrew & Eckert, Heather, 2018. "Carbon pricing with an output subsidy under imperfect competition: The case of Alberta's restructured electricity market," Resource and Energy Economics, Elsevier, vol. 52(C), pages 102-123.
    4. Giancarlo Bigi & Mauro Passacantando, 2017. "Differentiated oligopolistic markets with concave cost functions via Ky Fan inequalities," Decisions in Economics and Finance, Springer;Associazione per la Matematica, vol. 40(1), pages 63-79, November.

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