IDEAS home Printed from https://ideas.repec.org/p/hal/journl/hal-05221016.html
   My bibliography  Save this paper

Monopolistic behaviors and general equilibrium: a generalization of Nikaido's work

Author

Listed:
  • Hubert Stahn

    (BETA - Bureau d'Économie Théorique et Appliquée - INRA - Institut National de la Recherche Agronomique - UNISTRA - Université de Strasbourg - UL - Université de Lorraine - CNRS - Centre National de la Recherche Scientifique)

Abstract

This paper exhibits alternative conditions that ensure the existence of a general equilibrium with price-making firms in pure as well as in mixed strategies. The firms as in Nikaido's early work are considered as having a perfect knowledge of their demand. The existence of an objective demand is proved in a more general setting than the one used by Nikaido. Moreover to weaken the assumptions which guarantee the existence of an objective demand, I introduce a continuous random demand and prove its generic existence

Suggested Citation

  • Hubert Stahn, 1999. "Monopolistic behaviors and general equilibrium: a generalization of Nikaido's work," Post-Print hal-05221016, HAL.
    • Handle: RePEc:hal:journl:hal-05221016
    DOI: 10.1016/S0304-4068(97)00067-0
    Note: View the original document on HAL open archive server: https://hal.science/hal-05221016v1
    as

    Download full text from publisher

    File URL: https://hal.science/hal-05221016v1/document
    Download Restriction: no
    File URL: https://libkey.io/10.1016/S0304-4068(97)00067-0?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. Jaskold Gabszewicz, Jean & Vial, Jean-Philippe, 1972. "Oligopoly "A la cournot" in a general equilibrium analysis," Journal of Economic Theory, Elsevier, vol. 4(3), pages 381-400, June.
    2. Dubey, Pradeep & Mas-Colell, Andreau & Shubik, Martin, 1980. "Efficiency properties of strategies market games: An axiomatic approach," Journal of Economic Theory, Elsevier, vol. 22(2), pages 339-362, April.
    3. Takashi Negishi, 1961. "Monopolistic Competition and General Equilibrium," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 28(3), pages 196-201.
    4. repec:adr:anecst:y:1996:i:43:p:02 is not listed on IDEAS
    5. Stahn, Hubert, 1993. "A remark on uniqueness of fix-price equilibria in an economy with production," Journal of Mathematical Economics, Elsevier, vol. 22(5), pages 421-430.
    6. Roberts, Kevin, 1980. "The limit points of monopolistic competition," Journal of Economic Theory, Elsevier, vol. 22(2), pages 256-278, April.
    7. Allen, Beth, 1994. "Randomization and the limit points of monopolistic competition," Journal of Mathematical Economics, Elsevier, vol. 23(3), pages 205-218, May.
    8. Allen, B., 1985. "Continuous random selections from the equilibrium correspondence," LIDAM Discussion Papers CORE 1985020, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    9. Mas-Colell, Andreu & Nachbar, John H., 1991. "On the finiteness of the number of critical equilibria, with an application to random selections," Journal of Mathematical Economics, Elsevier, vol. 20(4), pages 397-409.
    10. Hubert Stahn, 1996. "Un modèle de concurrence monopolistique: une approche en équilibre général," Annals of Economics and Statistics, GENES, issue 43, pages 29-56.
    11. Gary-Bobo, Robert J., 1987. "Locally consistent oligopolistic equilibria are Cournot-Walras equilibria," Economics Letters, Elsevier, vol. 23(3), pages 217-221.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Gael Giraud & Hubert Stahn, 2013. "Nash-implementation of competitive equilibria via a bounded mechanism," Review of Economic Design, Springer;Society for Economic Design, vol. 17(1), pages 43-62, March.
    2. Hubert Stahn, 2000. "Quelques réflexions sur la formation stratégique des prix dans un contexte d'équilibre général," Cahiers d'Économie Politique, Programme National Persée, vol. 37(1), pages 225-255.
    3. Faias, Marta & Moreno-Garcia, Emma & Pascoa, Mario Rui, 2002. "Real indeterminacy of equilibria and manipulability," Journal of Mathematical Economics, Elsevier, vol. 37(4), pages 325-340, July.
    4. Carlos Alós-Ferrer & Georg Kirchsteiger, 2010. "General equilibrium and the emergence of (non)market clearing trading institutions," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 44(3), pages 339-360, September.
    5. Stahn, Hubert, 1998. "On monopolistic equilibria with incomplete markets: the case of an exchange economy," Journal of Mathematical Economics, Elsevier, vol. 29(1), pages 83-107, January.
    6. Marta Faias & Jaime Luque, 2017. "Endogenous formation of security exchanges," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 64(2), pages 331-355, August.
    7. Stahn, Hubert, 1998. "On monopolistic equilibria with incomplete markets: the case of an exchange economy," Journal of Mathematical Economics, Elsevier, vol. 29(1), pages 83-107, January.
    8. Weinrich, Gerd, 2007. "New Keynesian monopolistic competition and objective demand," Journal of Mathematical Economics, Elsevier, vol. 43(2), pages 153-173, February.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Hubert Stahn, 2000. "Quelques réflexions sur la formation stratégique des prix dans un contexte d'équilibre général," Cahiers d'Économie Politique, Programme National Persée, vol. 37(1), pages 225-255.
    2. Giraud, Gael, 2003. "Strategic market games: an introduction," Journal of Mathematical Economics, Elsevier, vol. 39(5-6), pages 355-375, July.
    3. Camelia Bejan & Florin Bidian, 2012. "Ownership structure and efficiency in large economies," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 50(3), pages 571-602, August.
    4. Michael Zierhut, 2021. "Generic regularity of differentiated product oligopolies," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 71(1), pages 341-374, February.
    5. Tuinstra, J., 2000. "Price adjustment in a model of monopolistic competition," CeNDEF Working Papers 00-13, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance.
    6. Stahn, Hubert, 1998. "On monopolistic equilibria with incomplete markets: the case of an exchange economy," Journal of Mathematical Economics, Elsevier, vol. 29(1), pages 83-107, January.
    7. Hervés Beloso, Carlos & Moreno García, Emma, 1996. "Coaliciones y competencia perfecta," DE - Documentos de Trabajo. Economía. DE 3362, Universidad Carlos III de Madrid. Departamento de Economía.
    8. Michael Zierhut, 2021. "Indeterminacy of Cournot–Walras equilibrium with incomplete markets," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 71(1), pages 81-114, February.
    9. Esteban-Bravo, Mercedes, 2000. "Existence and computation of a Cournot-Walras equilibrium," DES - Working Papers. Statistics and Econometrics. WS 9968, Universidad Carlos III de Madrid. Departamento de Estadística.
    10. Benassy, Jean-Pascal, 1990. "Non-Walrasian equilibria, money, and macroeconomics," Handbook of Monetary Economics, in: B. M. Friedman & F. H. Hahn (ed.), Handbook of Monetary Economics, edition 1, volume 1, chapter 4, pages 103-169, Elsevier.
    11. Stahn, Hubert, 1998. "On monopolistic equilibria with incomplete markets: the case of an exchange economy," Journal of Mathematical Economics, Elsevier, vol. 29(1), pages 83-107, January.
    12. Mercenier, Jean & Schmitt, Nicolas, 1996. "On Sunk Costs and Trade Liberalization in Applied General Equilibrium," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 37(3), pages 553-571, August.
    13. Dehez, Pierre & Dreze, Jacques H. & Suzuki, Takashi, 2003. "Imperfect competition a la Negishi, also with fixed costs," Journal of Mathematical Economics, Elsevier, vol. 39(3-4), pages 219-237, June.
    14. Ostroy, Joseph M & Zame, William R, 1994. "Nonatomic Economies and the Boundaries of Perfect Competition," Econometrica, Econometric Society, vol. 62(3), pages 593-633, May.
    15. Busetto, Francesca & Codognato, Giulio & Ghosal, Sayantan, 2012. "Noncooperative Oligopoly in Markets with a Continuum of Traders: A Limit Theorem," The Warwick Economics Research Paper Series (TWERPS) 994, University of Warwick, Department of Economics.
    16. Martin Shubik & Myrna Holtz Wooders, 1982. "Approximate Cores of a General Class of Economies: Part II. Set-Up Costs and Firm Formation in Coalition Production Economies," Cowles Foundation Discussion Papers 619, Cowles Foundation for Research in Economics, Yale University.
    17. J. Peter Neary, 2016. "International Trade in General Oligopolistic Equilibrium," Review of International Economics, Wiley Blackwell, vol. 24(4), pages 669-698, September.
    18. Jean-Pascal Bénassy, 2006. "Dynamic models with non clearing markets," Working Papers halshs-00590433, HAL.
    19. Sergio Parrinello, 2022. "Numéraire problems and market adjustments," Metroeconomica, Wiley Blackwell, vol. 73(1), pages 126-143, February.
    20. Marta Faias, 2004. "General equilibrium and endogenous creation of asset markets," Nova SBE Working Paper Series wp454, Universidade Nova de Lisboa, Nova School of Business and Economics.

    More about this item

    Keywords

    ;
    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hal:journl:hal-05221016. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: CCSD (email available below). General contact details of provider: https://hal.archives-ouvertes.fr/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.