We study the efficiency properties of oligopoly equilibria in congested networks. Our measure of efficiency is the difference between users' willingness to pay and delay costs. Previous work has demonstrated that in networks consisting of parallel links, efficiency losses from competition are...

Under full substitutability of preferences, it is known that a competitive equilibrium exists in trading networks, and is equivalent to (chain) stable outcomes. In this paper, we formulate the problem of finding an efficient outcome as a generalized submodular flow problem on a suitable network....