Non - Cooperative Asymptotic Oligopoly in Economies with Infinitely Many Commodities ∗
نویسندگان
چکیده
In this paper, we extend the non-cooperative analysis of oligopoly to exchange economies with infinitely many commodities by using strategic market games. This setting can be interpreted as a model of oligopoly with differentiated commodities by using the Hotelling line. We prove the existence of an “active” Cournot-Nash equilibrium and show that, when traders are replicated, the price vector and the allocation converge to the Walras equilibrium. We examine how the notion of oligopoly extends to our setting with a coutable infinity of commodities by distinguishing between asymptotic oligopolists and asymptotic price-takers. We illustrate these notions via a number of examples. Journal of Economic Literature Classification Number: C72, D43, D50.
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