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Asymmetric oligopoly and evolutionary stability

Wolfgang Leininger and Hamed M.Moghadam

Mathematical Social Sciences, 2018, vol. 96, issue C, 1-9

Abstract: It is a widely known result that in terms of evolutionary stability the long-run outcome of a Cournot oligopoly market with finite number of firms approaches the perfectly competitive Walrasian market outcome (Vega-Redondo, 1997). In this paper, we provide an alternative analysis of an asymmetric oligopoly market, which does not lead to marginal cost pricing and the competitive outcome in the long-run.

Date: 2018
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DOI: 10.1016/j.mathsocsci.2018.08.002

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