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

Francesca Busetto, Giulio Codognato and Sayantan Ghosal

Recherches économiques de Louvain, 2013, vol. 79, issue 4, 15-32

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 model of Cournot-Walras equilibrium of Codognato and Gabszewicz (1991); the model of Cournot-Nash equilibrium originally proposed by Lloyd S. Shapley and known as window model; the model of Cournot-Walras equilibrium of Busetto et al. (2008). We establish, in a systematic way, the relationship between the three notions of equilibrium proposed in these models and the notion of Walras equilibrium. Then, we investigate the relationships among those three notions of equilibrium. JEL Classification: C72, D51.1.

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
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Citations: View citations in EconPapers (8)

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