On the Existence of Bayesian Cournot Equilibrium

Ezra Einy (), Ori Haimanko (), Diego Moreno () and Benyamin Shitovitz ()
Additional contact information
Ezra Einy: Department of Economics Ben-Gurion University, Israel
Benyamin Shitovitz: Department of Economics, University of Haifa, Israel

No 715, Working Papers from Ben-Gurion University of the Negev, Department of Economics

Abstract: We show that when firms have asymmetric information about the market demand and theirs costs, a (Bayesian) Cournot equilibrium in pure strategies may not exist, or be unique. In fact, we are able to construct surprisingly simple and robust examples of duopolies with these features. However, we also find sufficient conditions for existence, and for uniqueness, of Cournot equilibrium in a certain class of industries. More general results arise when negative prices are possible.

Keywords: Oligopoly; Incomplete Information; Bayesian; Cournot; Equilibrium; Existence; Uniqueness (search for similar items in EconPapers)
JEL-codes: C72 D43 L13 (search for similar items in EconPapers)
Pages: 33 pages
Date: 2007
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://in.bgu.ac.il/en/humsos/Econ/Workingpapers/0715.pdf (application/pdf)

Related works:
Journal Article: On the existence of Bayesian Cournot equilibrium (2010)
Working Paper: On the Existence of Bayesian Cournot Equilibrium (2008)
Working Paper: On the Existence of Bayesian Cournot Equilibrium (2007)
Working Paper: On the existence of Bayesian Cournot equilibrium (2007)
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:bgu:wpaper:0715

Access Statistics for this paper

More papers in Working Papers from Ben-Gurion University of the Negev, Department of Economics Contact information at EDIRC.
Bibliographic data for series maintained by Aamer Abu-Qarn ().