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Noncooperative oligopoly in markets with a continuum of traders : a limit theorem
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Busetto, Francesca , Codognato, Giulio and Ghosal, Sayantan (2012) Noncooperative oligopoly in markets with a continuum of traders : a limit theorem. Working Paper. Coventry: Economics Department, University of Warwick. Warwick economics research paper series (TWERPS), Volume 2012 (Number 994). (Unpublished)
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Text (Working paper)
WRAP_Ghosal_twerp_994.pdf - Other Download (477Kb) | Preview |
Official URL: http://www2.warwick.ac.uk/fac/soc/economics/resear...
Abstract
In this paper, in an exchange economy with atoms and an atomless part, we analyze the relationship between the set of the Cournot-Nash equilibrium allocations of a strategic market game and the set of the Walras equilibrium allocations of the exchange economy with which it is associated. In an example, we show that, even when atoms are countably infinite, Cournot-Nash equilibria yield different allocations from the Walras equilibrium allocations of the underlying exchange
economy. We partially replicate the exchange economy by increasing the number of atoms without affecting the atomless part while ensuring that the measure space of agents remains finite. We show that any sequence of Cournot-Nash equilibrium allocations of the strategic mar-
ket game associated with the partially replicated exchange economies approximates a Walras equilibrium allocation of the original exchange economy
| Item Type: | Working or Discussion Paper (Working Paper) | ||||
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| Subjects: | H Social Sciences > HB Economic Theory H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management |
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| Divisions: | Faculty of Social Sciences > Economics | ||||
| Library of Congress Subject Headings (LCSH): | Economics, Mathematical, Economics -- Mathematical models, Business enterprises, Industrial management -- Mathematical models, Industrial management games, Games of strategy (Mathematics), Management games | ||||
| Series Name: | Warwick economics research paper series (TWERPS) | ||||
| Publisher: | Economics Department, University of Warwick | ||||
| Place of Publication: | Coventry | ||||
| Official Date: | 2012 | ||||
| Dates: |
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| Volume: | Volume 2012 | ||||
| Number: | Number 994 | ||||
| Number of Pages: | 17 | ||||
| Status: | Not Peer Reviewed | ||||
| Publication Status: | Unpublished | ||||
| Access rights to Published version: | Open Access (Creative Commons) | ||||
| Related URLs: |
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