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Stackelberg-Cournot and Cournot Equilibria in a Mixed Markets Exchange Economy

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  • Ludovic Julien

    (EconomiX - EconomiX - UPN - Université Paris Nanterre - CNRS - Centre National de la Recherche Scientifique)

Abstract

In this note, we compare two strategic general equilibrium concepts: the Stackelberg-Cournot equilibrium and the Cournot equilibrium. We thus consider a market exchange economy including atoms and a continuum of traders, who behave strategically. We show that, when the preferences of the small traders are represented by Cobb-Douglas utility functions and the atoms have the same utility functions and endowments, the Stackelberg-Cournot and the Cournot equilibrium equilibria coincide if and only if the followers' best responses functions have a zero slope at the SCE.

Suggested Citation

  • Ludovic Julien, 2012. "Stackelberg-Cournot and Cournot Equilibria in a Mixed Markets Exchange Economy," Post-Print hal-05758733, HAL.
    • Handle: RePEc:hal:journl:hal-05758733
    DOI: 10.4236/tel.2012.23056
    as

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