Computing Equilibrium Solutions for Imperfectly Competitive Markets

Yakir Plessner

American Journal of Agricultural Economics, 1971, vol. 53, issue 2, 191-196

Abstract: In most theoretical as well as empirical studies the conditions of free competition are assumed, and thus conclusions are subject to competitive behavior. In the real world, however, noncompetitive structures are quite common and deserve not less but, from several viewpoints, more attention than competitive ones. Assuming a linear demand system and constant returns to scale and using quadratic programming, it is shown how partial market equilibria for various leading firm and monopolistic structures can be computed. The operational usefulness of such computations is demonstrated via an application to an agricultural industry.

Date: 1971
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