Dynamic Behavior In Large Markets For Differentiated Products

Val Eugene Lambson

No 292673, SSRI Workshop Series from University of Wisconsin-Madison, Social Systems Research Institute

Abstract: An important question is how well competitive models approximate models of large finite economies. This paper studies that question for models of differentiated products. Both static and dynamic Nash equilibria are considered. In the class of models analyzed it is shown that static Nash equilibria always converge to competition as the number of firms increases. Dynamic Nash equilibria need not so converge. Easily checked necessary and sufficient conditions for their convergence to competition are, however, established.

Keywords: Research; Methods/Statistical; Methods (search for similar items in EconPapers)
Pages: 21
Date: 1985-12
References: Add references at CitEc
Citations:

Downloads: (external link)
https://ageconsearch.umn.edu/record/292673/files/uwmad-0025.PDF (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ags:uwssri:292673

DOI: 10.22004/ag.econ.292673

Access Statistics for this paper

More papers in SSRI Workshop Series from University of Wisconsin-Madison, Social Systems Research Institute Contact information at EDIRC.
Bibliographic data for series maintained by AgEcon Search ().