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Cournot equilibrium without apology: Existence and the Cournot inverse demand function

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  • GRILO, Isabel
  • MERTENS, Jean-François

Abstract

In a multi-commodity framework with absence of wealth effects, we prove the existence of equilibrium for Cournot oligopoly, and that the concept is completely non-ambiguous. We also obtain a uniquely defined endogenous inverse demand function, depending only on the competitive sector.
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Suggested Citation

  • GRILO, Isabel & MERTENS, Jean-François, 2009. "Cournot equilibrium without apology: Existence and the Cournot inverse demand function," LIDAM Reprints CORE 2084, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    • Handle: RePEc:cor:louvrp:2084
    DOI: 10.1016/j.geb.2008.10.013
    Note: In : Games and Economic Behavior, 65(1), 142-175, 2009
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    References listed on IDEAS

    as
    1. Simon, Leo K & Zame, William R, 1990. "Discontinuous Games and Endogenous Sharing Rules," Econometrica, Econometric Society, vol. 58(4), pages 861-872, July.
    2. d'Aspremont, C & Ferreira, R Dos Santos & Gerard-Varet, L-A, 1991. "Pricing Schemes and Cournotian Equilibria," American Economic Review, American Economic Association, vol. 81(3), pages 666-673, June.
    3. Mertens, J. F., 2003. "The limit-price mechanism," Journal of Mathematical Economics, Elsevier, vol. 39(5-6), pages 433-528, July.
    4. Jones, Larry E, 1984. "A Competitive Model of Commodity Differentiation," Econometrica, Econometric Society, vol. 52(2), pages 507-530, March.
    5. Mas-Colell, Andreu, 1975. "A model of equilibrium with differentiated commodities," Journal of Mathematical Economics, Elsevier, vol. 2(2), pages 263-295.
    6. Rader, Trout, 1972. "Theory of General Economic Equilibrium," Elsevier Monographs, Elsevier, edition 1, number 9780125750400.
    7. Danilov, V. I. & Sotskov, A. I., 1990. "A generalized economic equilibrium," Journal of Mathematical Economics, Elsevier, vol. 19(4), pages 341-356.
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    Cited by:

    1. Oriol Carbonell-Nicolau & Richard P. McLean, 2018. "On the Existence of Nash Equilibrium in Bayesian Games," Mathematics of Operations Research, INFORMS, vol. 43(2), pages 100-129, February.
    2. Cui, Herui & Wei, Pengbang, 2017. "Analysis of thermal coal pricing and the coal price distortion in China from the perspective of market forces," Energy Policy, Elsevier, vol. 106(C), pages 148-154.

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