Oligopoly Equilibrium with differentiated commodities: a computation of two models

Bio-Akanni Elegbede ()
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Bio-Akanni Elegbede: IAE DIJON - Université de Bourgogne (CREGO), https://crego.u-bourgogne.fr

No 1171201, Working Papers CREGO from Université de Bourgogne - CREGO EA7317 Centre de recherches en gestion des organisations

Abstract: In this paper, we define the concept of symmetric Cournot-Walras equilibrium (SCWE thereafter) in a pure exchange economy with differentiated commodities based on Julien and Tricou (2005). We compute this concept of equilibrium to two economies where the oligopolists offer their differentiated goods on the market in order to obtain the competitive good. We obtain three main results. First, we find that, under certain conditions, SCWE-DP allocations and price converge to Walrasian ones. Second, we also find that whether the SCWE-DP is Pareto-dominated or not by Walrasian equilibrium depends on the type of economic agent (oligopolist or competitive). Third, the two economies are linked.

Keywords: Differentiated commodity; General equilibrium; Cournot-Walras Equilibrium (search for similar items in EconPapers)
JEL-codes: C72 D43 D51 L13 L38 (search for similar items in EconPapers)
Pages: 19 pages
Date: 2017-12
New Economics Papers: this item is included in nep-com, nep-gth, nep-ind and nep-mic
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