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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"Pricing Schemes and Cournotian Equilibria,"
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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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- Shapley, Lloyd S & Shubik, Martin, 1977. "Trade Using One Commodity as a Means of Payment," Journal of Political Economy, University of Chicago Press, vol. 85(5), pages 937-68, October.
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