Error message

Deprecated function: Array and string offset access syntax with curly braces is deprecated in include_once() (line 20 of /mnt/web104/a0/07/510451407/htdocs/includes/file.phar.inc).

Noncooperative Oligopoly in Markets with a Continuum of Traders

Printer-friendly version
Working paper
Author/s: 
Francesca Busetto, Giulio Codognato, and Sayantan Ghosal
Issue number: 
866
Publisher: 
University of Warwick
Year: 
2008
In this paper, we study three prototypical models of noncooper- ative 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 explana- tion 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.
Developed by Paolo Gittoi