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Cournot Equilibrium Uniqueness: At 0 Discontinuous Industry Revenue and Decreasing Price Flexibility

Author

Listed:
  • Pierre Von Mouche

    (Wageningen University, Wageningen, The Netherlands)

  • Takashi Sato

    (Shimonoseki City University, Shimonoseki, Japan)

Abstract

We consider the equilibrium uniqueness problem for a large class of Cournot oligopolies with convex cost functions and a proper price function p̃ with decreasing price flexibility. This class allows for (at 0) discontinuous industry revenue and in particular for p̃(y) = y−α. The paper illustrates in an exemplary way the Selten–Szidarovszky technique based on virtual backward reply functions. An algorithm for the calculation of the unique equilibrium is provided.

Suggested Citation

  • Pierre Von Mouche & Takashi Sato, 2019. "Cournot Equilibrium Uniqueness: At 0 Discontinuous Industry Revenue and Decreasing Price Flexibility," International Game Theory Review (IGTR), World Scientific Publishing Co. Pte. Ltd., vol. 21(02), pages 1-19, June.
    • Handle: RePEc:wsi:igtrxx:v:21:y:2019:i:02:n:s0219198919400103
    DOI: 10.1142/S0219198919400103
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    Cited by:

    1. Achim Hagen & Pierre von Mouche & Hans-Peter Weikard, 2020. "The Two-Stage Game Approach to Coalition Formation: Where We Stand and Ways to Go," Games, MDPI, vol. 11(1), pages 1-31, January.

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