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

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Grilo, Isabel [UCL] Mertens, Jean-François [UCL]

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.

Document type Article de périodique (Journal article)
Access type Accès restreint
Publication date 2009
Language Anglais
Journal information "Games and Economic Behavior" - Vol. 65, no. 1, p. 142-175 (Janvier 2009)
Peer reviewed yes
Publisher Academic Press (San Diego, USA)
issn 0899-8256
Publication status Publié
Affiliations UCL - EUEN/CORE - Center for operations research and econometrics
UCL - EUEN/CORE - Center for operations research and econometrics
Keywords Duopoly ; Oligopoly ; Cournot ; Equilibrium ; Inverse demand ; Existence ; Representative consumer ; Aggregation ; Consumer surplus ; Wealth effects
Links
Bibliographic reference Grilo, Isabel ; Mertens, Jean-François. Cournot equilibrium without apology: Existence and the Cournot inverse demand function. In: Games and Economic Behavior, Vol. 65, no. 1, p. 142-175 (Janvier 2009)
Permanent URL http://hdl.handle.net/2078.1/23388