Three Models of Noncooperative Oligopoly in Markets with a Continuum of Traders

Francesca Busetto, Giulio Codognato and Sayantan Ghossal
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Francesca Busetto: Università degli Studi di Udine, Dipartimento di Scienze Economiche e Statistiche
Giulio Codognato: Università degli Studi di Udine, Dipartimento di Scienze Economiche e Statistiche
Sayantan Ghossal: University of Warwick, Department of Economics

No 2013041, Discussion Papers (REL - Recherches Economiques de Louvain) from Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES)

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 Cournot-Walras equilibrium model of Codognato and Gabszewicz (1991), the Cournot-Nash equilibrium model originally proposed by Lloyd S. Shapley and known as the “window” model, and the Cournot-Walras equilibrium model of Busetto et al. (2008). We establish in a systematic manner the relationship between the three notions of equilibrium proposed in these models and the notion of Walras equilibrium. We then investigate the relationships linking these three notions of equilibrium.

Keywords: Noncooperative oligopoly; Cournot-Walras equilibria; Cournot-Nash equilibria (search for similar items in EconPapers)
JEL-codes: C72 D51 (search for similar items in EconPapers)
Date: 2013-12-01
New Economics Papers: this item is included in nep-com, nep-hpe and nep-mic
Note: Special Issue : Recent Developments in Strategic Interactions and General Equilibrium
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Citations: View citations in EconPapers (8)

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