We study the relation between a Cournot equilibrium and a Bertrand equilibrium in an emph{asymmetric} duopoly with differentiated goods in which each firm maximizes its relative profit that is the difference between its profit and the profit of the rival firm. Both demand and cost functions are...

We investigate the relation between a Cournot equilibrium and a Bertrand equilibrium in a duopoly with differentiated substitutable goods in which each firm maximizes its relative profit that is the difference between its profit and the profit of the rival firm. We show that when firms maximize...

In this note we define generalized monotonicity which is a generalized version of monotonicity due to Muller and Satterthwaite (1979) for a social choice function under individual preferences which permit indifference, and shall show that generalized monotonicity and strategy-proofness are...

Wilson's impossibility theorem (Wilson(1972)) about Arrovian social welfare functions (Arrow(1963)) states that there exists a dictator or an inverse-dictator for any non-null social welfare function which satisfies the conditions of unrestricted domain, non-imposition and independence of...

We consider the relation between strategy-proofness of resolute (single-valued) social choice functions and its property which we call Non-negative association property (NNAP) when individual preferences over infinite number of alternatives are continuous, and the set of alternatives is a metric...

Recently there are several works which analyzed the strategy-proofness of non-resolute social choice rules such as Duggan and Schwartz (2000) and Ching and Zhou (2001). In these analyses it was assumed that individual preferences are linear, that is, they excluded indifference from individual...

We analyze Bertrand and Cournot equilibria in an asymmetric oligopoly in which the firms produce differentiated substitutable goods and seek to maximize their relative profits instead of their absolute profits. Assuming linear demand functions and constant marginal costs we show the following...

Wilson's impossibility theorem (Wilson(1972)) about Arrovian social welfare functions (Arrow(1963)) states that there exists a dictator or an inverse-dictator for any non-null social welfare function which satisfies the conditions of unrestricted domain, non-imposition and independence of...

We present an analysis about adoption of new technology by firms in a duopoly with differentiated goods under absolute and relative profit maximization. Technology itself is free, but each firm must expend a fixed set-up cost, for example, for education of its staff. Under absolute profit...

We consider the relation between strategy-proofness of resolute (single-valued) social choice functions and its property which we call Non-negative association property (NNAP) when individual preferences over infinite number of alternatives are continuous, and the set of alternatives is a metric...