Tsitsiklis, John N.; Xu, Yunjian - In: Journal of Mathematical Economics 53 (2014) C, pp. 46-58
We consider a Cournot oligopoly model where multiple suppliers (oligopolists) compete by choosing quantities. We compare the social welfare achieved at a Cournot equilibrium to the maximum possible, for the case where the inverse market demand function is convex. We establish a lower bound on...