Anything goes with heterogeneous, but not always with homogeneous oligopoly

Anything goes with heterogeneous, but not always with homogeneous oligopoly

Corchón and Mas-Colell [1996. On the stability of best reply and gradient systems with applications to imperfectly competitive models. Economics Letters 51, 59–65] showed that in heterogeneous oligopoly (almost) everything is possible. In order to obtain a similar result for homogeneous oligopoly, e...

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Veröffentlicht in:Journal of economic dynamics & control 2009, Vol.33 (1), p.183-203
1. Verfasser: Furth, Dave
Format: Artikel
Sprache:eng
Schlagworte:
(In)Stability
(Limit)Cycles
Cost function
Cost structure
Cournot oligopoly
Cournot oligopoly (In)Stability (Limit)Cycles Morse theory
Cyclical analysis
Economic models
Externalities
Externality
Morse theory
Oligopoly
Studies
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Beschreibung
Zusammenfassung:Corchón and Mas-Colell [1996. On the stability of best reply and gradient systems with applications to imperfectly competitive models. Economics Letters 51, 59–65] showed that in heterogeneous oligopoly (almost) everything is possible. In order to obtain a similar result for homogeneous oligopoly, either one needs an externality in the cost function, or the reaction correspondences should fulfill a special condition.
ISSN:0165-1889
1879-1743
DOI:10.1016/j.jedc.2008.04.012