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Existence and Uniqueness of Equilibrium in Labor-Managed Cournot Oligopoly

Author

Listed:
  • Koji Okuguchi

    (Gifu Shotoku Gakuen University)

  • Ferenc Szidarovszky

    (University of Arizona)

Abstract

Labor-managed Cournot oligopoly with or without product differentiation is analyzed. First, the existence of Cournot equilibrium which is not necessarily unique is proved under general conditions based on the Brouwer fixed point theorem, which does not provide a direct computer method for finding the equilibrium. Second, a constructive proof of finding the unique equilibrium is presented for Cournot labor-managed oligopoly without product differentiation.

Suggested Citation

  • Koji Okuguchi & Ferenc Szidarovszky, 2007. "Existence and Uniqueness of Equilibrium in Labor-Managed Cournot Oligopoly," Rivista di Politica Economica, SIPI Spa, vol. 97(3), pages 9-16, May-June.
    • Handle: RePEc:rpo:ripoec:v:97:y:2007:i:3:p:9-16
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    Cited by:

    1. Takeshi Yamazaki, 2016. "On the Works of Professor Koji Okuguchi," Springer Series in Game Theory, in: Pierre von Mouche & Federico Quartieri (ed.), Equilibrium Theory for Cournot Oligopolies and Related Games, pages 7-13, Springer.

    More about this item

    JEL classification:

    • L13 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Oligopoly and Other Imperfect Markets
    • P13 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Cooperative Enterprises

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