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Some Notes on Cournot and the Bargaining Problem

In: Including a Symposium on the Historical Epistemology of Economics

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  • Marc Nerlove

Abstract

The basic ideas of Cournot and those who came after him are related to the recent work of Nash and his notion of an “equilibrium point.” It is shown that the Nash equilibrium point incorporates the main contribution of Cournot to the solution of the duopoly problem and that the major criticism that may be made against the Cournot equilibrium may also be made against the Nash equilibrium. It is then indicated to what use this weakness might be put in the study of bargaining.

Suggested Citation

  • Marc Nerlove, 2017. "Some Notes on Cournot and the Bargaining Problem," Research in the History of Economic Thought and Methodology, in: Including a Symposium on the Historical Epistemology of Economics, volume 35, pages 179-189, Emerald Group Publishing Limited.
    • Handle: RePEc:eme:rhetzz:s0743-41542017000035a009
    DOI: 10.1108/S0743-41542017000035A009
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