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In this paper, a multi-market Cournot game is proposed based on a specific inverse demand function. The game is studied …. Furthermore, a dynamic multi-market Cournot model is introduced. …
Persistent link: https://www.econbiz.de/10010744012
This paper compares the leader and follower payoff in a duopoly game, as they arise in sequential play, with the Nash payoff in simultaneous play. If the game is symmetric, has a unique symmetric Nash equilibrium, and players' payoffs are monotonic in the opponent's choice along their own best...
Persistent link: https://www.econbiz.de/10010744848
takers in the forward market and trade through marketers, who play a Cournot game. Our model’s main features come from the …
Persistent link: https://www.econbiz.de/10010674835
present examples which show that this is not typically a Cournot game. Rather, we introduce an alternative game of quantity … the market share and Cournot games have the same equilibria if and only if the price elasticity of the latter is one and … investigate the differences in equilibria otherwise. These results lead to necessary and sufficient conditions for the Cournot …
Persistent link: https://www.econbiz.de/10010680574
neoclassical theory, Physica A 370 (2006) 81–85] suggests that the Cournot model, which is widely used in Economics, is …
Persistent link: https://www.econbiz.de/10010590952
We discuss the traditional interpretation of Edgeworth’s conception of competition neo-Walrasian authors developed following the Debreu-Scarf ’s theorem legacy. This interpretation presents Edgeworth as the forerunner of the cooperative-games approach based on the notion of the core as a...
Persistent link: https://www.econbiz.de/10010595727
Persistent link: https://www.econbiz.de/10010598490
This paper constructs a Cournot-Ricardo model of trade by incorporating Cournot competition in a Ricardian trade model … turns out to be equal to the difference in the industry distribution of productivity in the case of our Cournot …
Persistent link: https://www.econbiz.de/10010598779
The present paper compares the Cournot and Bertrand equilibrium outcomes and social welfare in vertically related …, the consumers' surplus and the social welfare are always higher under Cournot final market competition than under Bertrand … final market competition. On the contrary the equilibrium profits of the upstream monopolist under Bertrand market …
Persistent link: https://www.econbiz.de/10010648199
welfare implication of the Stackelberg model. Introducing a small number of leaders into the Cournot model can reduce welfare …. However, introducing a small number of followers into the Cournot model always improves welfare. The key result behind this …
Persistent link: https://www.econbiz.de/10010659042