A Dynamic Analysis of Cournot Duopoly in Imperfectly Competitive Product and Factor Markets

Carl Chiarella and Koji Okuguchi

No 43, Working Paper Series from Finance Discipline Group, UTS Business School, University of Technology, Sydney

Abstract: Assuming identical firms, a linear market demand function and a single factor of production, labour, we analyse the existence and stability of a homogeneous Cournot duopoly facing imperfect competition in both product and factor markets. Under the assumption of a fairly general wage function we are able to demonstrate local stability of the unique equilibrium, and global stability under the assumption of a convex reaction function.

Pages: 15 pages
Date: 1995-03-01
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Citations: View citations in EconPapers (3)

Published as: Chiarella, C. and Okuguchi, K., 1997, "A Dynamic Analysis of Cournot Duopoly in Imperfectly Competitive Product and Factor Markets", Keio Economic Studies, 34(1), 21-33.

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