FlÅm, Sjur Didrik - In: Economic Theory 6 (1995) 3, pp. 511-518
We exhibit a quite natural, adaptive process generated by price-taking, noncooperative firms, supplying the same market. Under rather mild conditions, that process, being driven by marginal profits, converges to a market clearing, Cournot-Nash equilibrium. Namely, it suffices for convergence...