Cournot equilibrium uniqueness via demi-concavity

Uniqueness , and Symmetry of Free - Entry Cournot Equilibrium :

This article adds technology choice to a free-entry Cournot model with linear demand and constant marginal costs. Firms can choose from a discrete set of technologies. This simple framework yields non-existence of equilibrium, existence of multiple equilibria and equilibria in which ex-ante identical ̄rms choose di®erent technologies as possible outcomes. I provide a full characterization of th...

Stackelberg versus Cournot Equilibrium

We reconsider Stackelberg’s classical critique of the Cournot duopoly, in the framework of endogenous timing for two-player games. For quantity duopoly we provide different sets of minimal conditions, directly on the demand and cost functions, yielding respectively the simultaneous and the two sequential modes of play. While our findings essentially confirm the predominance of the former, they ...

On the uniqueness of Cournot equilibrium in case of concave integrated price flexibility

Cournot-Walras equilibrium as a subgame perfect equilibrium

In this paper, we respecify à la Cournot-Walras the mixed version of a model of noncooperative exchange, originally proposed by Lloyd S. Shapley. We first show that this respecification has a Cournot-Walras equilibrium allocation, which does not correspond to any CournotNash equilibrium of the mixed version of the original Shapley’s model. As this is due to the intrinsic two-stage nature of the...

Comparative statics in Cournot free entry equilibrium

In this paper we study the effects of a change in an exogenous variable (the fixed cost or a parameter in the demand function) on the output and the number of active firms in a Symmetric Cournot Equilibrium with Free Entry (SCEFE). The results obtained here are different from those obtained in the Cournot model with a given number of firms. In particular, an increase in demand might yield a dec...