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Optimal Resource Allocation In General Cournotcompetitive Equilibrium

Conventional economic theory stipulates that output in Cournot competition is too low relative to that which is attained in perfect competition. We revisit this result in a General Cournot-competitive Equilibrium model with two industries that di er only in terms of productivity. We show that in general equilibrium, the more ecient industry produces too little and the less ecient industry produces too much compared to an optimal scenario with perfect competition.

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File URL: https://www.uib.no/filearchive/wp5.13.pdf
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Paper provided by University of Bergen, Department of Economics in its series Working Papers in Economics with number 05/13.

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Length: 9 pages
Date of creation: 20 Jun 2013
Date of revision:
Handle: RePEc:hhs:bergec:2013_005
Contact details of provider: Postal: Institutt for √łkonomi, Universitetet i Bergen, Postboks 7802, 5020 Bergen, Norway
Phone: (+47)55589200
Fax: (+47)55589210
Web page: http://www.uib.no/econ/en
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  1. Avinash K. Dixit & Gene M. Grossman, 1987. "Targeted Export Promotion with Several Oligopolistic Industries," NBER Working Papers 1344, National Bureau of Economic Research, Inc.
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