General Oligopolies

Gian-Italo Bischi (), Carl Chiarella, Michael Kopel and Ferenc Szidarovszky ()
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Gian-Italo Bischi: Università di Urbino “Carlo Bo”
Ferenc Szidarovszky: University of Arizona

Chapter Chapter 3 in Nonlinear Oligopolies, 2010, pp 103-140 from Springer

Abstract: Abstract In the previous chapter we analyzed concave oligopolies where the best response functions were monotonic and therefore the local and global analysis of the corresponding dynamic processes were relatively simple. The examples discussed there have allowed the reader to become familiar with the major concepts and methods that we shall use in the rest of the book. If we drop the simplifying assumptions of the previous chapter then more complex dynamics may arise. In this chapter we will present a collection of such models. We initiate our discussion in Sect. 3.1 where we consider oligopolies with isoelastic price functions and dynamics in discrete time. We give a detailed analysis of local and global stability of some particular examples. In Sect. 3.2 we return to the issue of oligopolies with cost externalities, which may display multiple interior Nash equilibria. The global analysis of some specific examples indicates how the oligopoly may converge to particular equilibria.

Keywords: Nash Equilibrium; Cost Externality; Global Bifurcation; Interior Equilibrium; Adjustment Speed (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-642-02106-0_3

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DOI: 10.1007/978-3-642-02106-0_3

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