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Cournot equilibrium uniqueness : At 0 discontinuous industry revenue and decreasing price flexibility

Authors
  • Sato, Takashi
Publication Date
Jan 01, 2019
Source
Wageningen University and Researchcenter Publications
Keywords
Language
English
License
Unknown
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Abstract

<p>We consider the equilibrium uniqueness problem for a large class of Cournot oligopolies with convex cost functions and a proper price function <sp>p with decreasing price flexibility. This class allows for (at 0) discontinuous industry revenue and in particular for <sp>p(y) = y-α. This chapter illustrates in an exemplary way the Selten-Szidarovszky technique based on virtual backward reply functions. An algorithm for the calculation of the unique equilibrium is provided.</p>

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