Download This PaperCournot Retrouvé Under Price or Supply Function Competition
Quaderni - Working Paper DSE N° 1003
18 Pages Posted: 18 Apr 2015
Date Written: April 17, 2015
Abstract
This paper aims at participating in the long-lasting debate about the analytical foundations of the Cournot equilibrium. In a homogeneous oligopoly, under standard regularity conditions, we prove that Cournot-Nash emerges both under (i) price competition and Cournot conjectures; and (ii) supply function competition with ex post market clearing. We demonstrate both results within a model of exogenous product differentiation.
Keywords: supply function, price competition, quantity competition
JEL Classification: D43, L13
Suggested Citation: Suggested Citation
Delbono, Flavio and Lambertini, Luca, Cournot Retrouvé Under Price or Supply Function Competition (April 17, 2015). Quaderni - Working Paper DSE N° 1003, Available at SSRN: https://ssrn.com/abstract=2595581 or http://dx.doi.org/10.2139/ssrn.2595581
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