Intertemporal Cournot and Walras Equilibrium: An Illustration
Tito Cordella () and
No 97/13, Working Papers from Arizona State University, Department of Economics
In an intertemporal general equilibrium framework, we compare a Cournot equilibrium to the Walras equilibrium. The Cournot agents trade and invest less than the Walras agents. This generates an ineffciency which does not vanish as the number of Cournot agents tends to infinity. A larger number of strategic Cournot agents implies that the amount of trade (relative to their aggregate consumption) increases (i.e., moving towards the Walrasian amount), but their investment (relative to the stock) decreases (i.e., moving away from the Walrasian amount).
JEL-codes: C72 C73 D43 D90 (search for similar items in EconPapers)
References: Add references at CitEc
Citations Track citations by RSS feed
Downloads: (external link)
Our link check indicates that this URL is bad, the error code is: 552 status code 552
Journal Article: Intertemporal Cournot and Walras Equilibria: An Illustration (2002)
Working Paper: Intertemporal Cournot and Walras equilibrium: An illustration (1995)
Working Paper: Intertemporal Cournot and Walras Equilibrium: An Illustration (1994)
Working Paper: Intertemporal Cournot and Walras Equilibria: An Illustration (1994)
Working Paper: Intertemporal Cournot and Walras Equilibrium: An Illustration
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: http://EconPapers.repec.org/RePEc:wop:astewp:9713
Access Statistics for this paper
More papers in Working Papers from Arizona State University, Department of Economics Contact information at EDIRC.
Series data maintained by Thomas Krichel ().