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Noncooperative oligopoly in markets with a continuum of traders
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Busetto, Francesca, Codognato, Giulio and Ghosal, Sayantan (2008) Noncooperative oligopoly in markets with a continuum of traders. Working Paper. Coventry: University of Warwick, Department of Economics. Warwick economic research papers (Number 866). (Unpublished)
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Official URL: http://www2.warwick.ac.uk/fac/soc/economics/resear...
Abstract
In this paper, we study three prototypical models of noncooperative oligopoly in markets with a continuum of traders : the model of Cournot-Walras equilibrium of Codognato and Gabszewicz (1991), the model of Cournot-Nash equilibrium of Lloyd S. Shapley, and the model of Cournot-Walras equilibrium of Busetto et al. (2008). We argue that these models are all distinct and only the Shapley's model with a continuum of traders and atoms gives an endogenous explanation of the perfectly and imperfectly competitive behavior of agents in a one-stage setting. For this model, we prove a theorem of existence of a Cournot-Nash equilibrium.
| Item Type: | Working or Discussion Paper (Working Paper) | ||||
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| Subjects: | H Social Sciences > HD Industries. Land use. Labor | ||||
| Divisions: | Faculty of Social Sciences > Economics | ||||
| Library of Congress Subject Headings (LCSH): | Oligopolies, Competition, Imperfect, Noncooperative games (Mathematics), Stock exchanges | ||||
| Series Name: | Warwick economic research papers | ||||
| Publisher: | University of Warwick, Department of Economics | ||||
| Place of Publication: | Coventry | ||||
| Official Date: | September 2008 | ||||
| Dates: |
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| Number: | Number 866 | ||||
| Number of Pages: | 32 | ||||
| Institution: | University of Warwick | ||||
| Status: | Not Peer Reviewed | ||||
| Publication Status: | Unpublished | ||||
| Access rights to Published version: | Open Access (Creative Commons) | ||||
| Version or Related Resource: | Published: Busetto, F., et al. (2011). Noncooperative oligopoly in markets with a continuum of traders. Games and Economic Behavior, 72(1), pp. 38-45. http://wrap.warwick.ac.uk/id/eprint/41559 | ||||
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