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Computing Equilibrium Solutions for Imperfectly Competitive Markets

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  • Yakir Plessner

Abstract

In most theoretical as well as empirical studies the conditions of free competition are assumed, and thus conclusions are subject to competitive behavior. In the real world, however, noncompetitive structures are quite common and deserve not less but, from several viewpoints, more attention than competitive ones. Assuming a linear demand system and constant returns to scale and using quadratic programming, it is shown how partial market equilibria for various leading firm and monopolistic structures can be computed. The operational usefulness of such computations is demonstrated via an application to an agricultural industry.

Suggested Citation

  • Yakir Plessner, 1971. "Computing Equilibrium Solutions for Imperfectly Competitive Markets," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 53(2), pages 191-196.
    • Handle: RePEc:oup:ajagec:v:53:y:1971:i:2:p:191-196.
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    File URL: http://hdl.handle.net/10.2307/1237431
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    Cited by:

    1. Day, Richard H. & Sparling, Edward, 1977. "Optimization Models in Agricultural and Resource Economics," A Survey of Agricultural Economics Literature, Volume 2: Quantitative Methods in Agricultural Economics, 1940s to 1970s,, Agricultural and Applied Economics Association.
    2. Harrington, David H., 1972. "Specification Of Supplies And Demands For Subsector And Submarket Studies," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 4(1), pages 1-6, July.

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