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Dynamic Behaviour in Large Markets for Differentiated Products

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  • Val Eugene Lambson

Abstract

An important question is how well competitive models approximate models of large finite economies. For a class of differentiated products models static Nash equilibria, if they exist, always converge to competition as the number of firms increases. Dynamic Nash equilibria need not so converge. Easily checked conditions for convergence to competition do, however, exist.

Suggested Citation

  • Val Eugene Lambson, 1987. "Dynamic Behaviour in Large Markets for Differentiated Products," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 54(2), pages 293-300.
    • Handle: RePEc:oup:restud:v:54:y:1987:i:2:p:293-300.
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    File URL: http://hdl.handle.net/10.2307/2297518
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    Cited by:

    1. Cheikbossian, Guillaume, 2012. "The collective action problem: Within-group cooperation and between-group competition in a repeated rent-seeking game," Games and Economic Behavior, Elsevier, vol. 74(1), pages 68-82.
    2. Paul Pecorino, 2015. "Olson’s Logic of Collective Action at fifty," Public Choice, Springer, vol. 162(3), pages 243-262, March.
    3. Pecorino, Paul, 1999. "The effect of group size on public good provision in a repeated game setting," Journal of Public Economics, Elsevier, vol. 72(1), pages 121-134, April.
    4. Paul Pecorino & Akram Temimi, 2007. "Public good provision in a repeated game: The role of small fixed costs of participation," Public Choice, Springer, vol. 130(3), pages 337-346, March.

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