Three models of noncooperative oligopoly in markets with a continuum of traders

Busetto, F., Codognato, G., and Ghosal, S. (2013) Three models of noncooperative oligopoly in markets with a continuum of traders. Recherches économiques de Louvain, 79(4), pp. 15-32. (doi:10.3917/rel.794.0015)

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Abstract

In this paper, we reconstruct the main developments of the theory of noncooperative oligopoly in general equilibrium, by focusing on the analysis of three prototypical models for pure exchange economies: the model of Cournot-Walras equilibrium of Codognato and Gabszewicz (1991); the model of Cournot-Nash equilibrium originally proposed by Lloyd S. Shapley and known as window model; the model of Cournot-Walras equilibrium of Busetto et al. (2008). We establish, in a systematic way, the relationship between the three notions of equilibrium proposed in these models and the notion of Walras equilibrium. Then, we investigate the relationships among those three notions of equilibrium.

Item Type:Articles
Status:Published
Refereed:Yes
Glasgow Author(s) Enlighten ID:Ghosal, Professor Sayantan
Authors: Busetto, F., Codognato, G., and Ghosal, S.
College/School:College of Social Sciences > Adam Smith Business School > Economics
Journal Name:Recherches économiques de Louvain
Publisher:De Boeck Universite
ISSN:0770-4518

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