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Optimal Resource Allocation In General Cournotcompetitive Equilibrium

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Abstract

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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  • Ervik, Inger Sommerfelt & Soegaard, Christian, 2013. "Optimal Resource Allocation In General Cournotcompetitive Equilibrium," Working Papers in Economics 05/13, University of Bergen, Department of Economics.
  • Handle: RePEc:hhs:bergec:2013_005
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    File URL: https://www.uib.no/filearchive/wp5.13.pdf
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    1. Dixit, Avinash K. & Grossman, Gene M., 1986. "Targeted export promotion with several oligopolistic industries," Journal of International Economics, Elsevier, vol. 21(3-4), pages 233-249, November.
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    Cited by:

    1. Rudy Colacicco, 2015. "Ten Years Of General Oligopolistic Equilibrium: A Survey," Journal of Economic Surveys, Wiley Blackwell, vol. 29(5), pages 965-992, December.

    More about this item

    Keywords

    Cournot oligopoly; GOLE (General Oligopolistic Equilibrium); industrial policy;

    JEL classification:

    • D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General
    • H21 - Public Economics - - Taxation, Subsidies, and Revenue - - - Efficiency; Optimal Taxation
    • L13 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Oligopoly and Other Imperfect Markets

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