General Equilibrium Concepts Under Imperfect Competition: A Cournotien Approach
In a pure exchange economy we propose a general equilibrium concept under imperfect competition, the "Cournotian Monopolistic Competition Equilibrium", and compare it to the Cournot-Walras and the Monopolistic Competition concepts. The advantage of the proposed concept is to simplify the calculations attributed to strategic agents. Then we study the connexion of these concepts to a general concept of P-equilibrium which is extended to economies with production.
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|Date of creation:||1992|
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"On monopolistic competition and involuntary unemployment,"
CORE Discussion Papers
1986035, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
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"Pricing schemes and Cournotian equilibria,"
CORE Discussion Papers RP
943, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
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- repec:dau:papers:123456789/181 is not listed on IDEAS
- Thomas E. Cooper, 1986. "Most-Favored-Customer Pricing and Tacit Collusion," RAND Journal of Economics, The RAND Corporation, vol. 17(3), pages 377-388, Autumn.
- James Peck & Karl Shell, 1991. "Market Uncertainty: Correlated and Sunspot Equilibria in Imperfectly Competitive Economies," Review of Economic Studies, Oxford University Press, vol. 58(5), pages 1011-1029.
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- Peck, James & Shell, Karl & Spear, Stephen E., 1992. "The market game: existence and structure of equilibrium," Journal of Mathematical Economics, Elsevier, vol. 21(3), pages 271-299.
- Dubey, P. & Rogawski, J. D., 1990. "Inefficiency of smooth market mechanisms," Journal of Mathematical Economics, Elsevier, vol. 19(3), pages 285-304.
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