Busetto, F., Codognato, G., Ghosal, S. , Julien, L. and Tonin, S. (2020) Existence and optimality of Cournot-Nash equilibria in a bilateral oligopoly with atoms and an atomless part. International Journal of Game Theory, 49(4), pp. 933-951. (doi: 10.1007/s00182-020-00719-z)
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Abstract
We consider a bilateral oligopoly version of the Shapley window model with large traders, represented as atoms, and small traders, represented by an atomless part. For this model, we provide a general existence proof of a Cournot–Nash equilibrium that allows one of the two commodities to be held only by atoms. Then, we show, using a corollary proved by Shitovitz (Econometrica 41:467–501, 1973), that a Cournot–Nash allocation is Pareto optimal if and only if it is a Walras allocation.
Item Type: | Articles |
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Additional Information: | Francesca Busetto and Giulio Codognato gratefully acknowledge financial support from PRID2018-2- DIES005. |
Status: | Published |
Refereed: | Yes |
Glasgow Author(s) Enlighten ID: | Ghosal, Professor Sayantan |
Authors: | Busetto, F., Codognato, G., Ghosal, S., Julien, L., and Tonin, S. |
College/School: | College of Social Sciences > Adam Smith Business School > Economics |
Journal Name: | International Journal of Game Theory |
Publisher: | Springer |
ISSN: | 0020-7276 |
ISSN (Online): | 1432-1270 |
Published Online: | 03 June 2020 |
Copyright Holders: | Copyright © 2020 Springer-Verlag GmbH Germany, part of Springer Nature |
First Published: | First published in International Journal of Game Theory 49(4): 933-951 |
Publisher Policy: | Reproduced in accordance with the copyright policy of the publisher |
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