Download This PaperA Dynamic Analysis of Cournot Duopoly in Imperfectly Competitive Product and Factor Markets
U. of Technology, Sydney Finance and Economics Working Paper No. 43
20 Pages Posted: 21 Feb 2006
Date Written: March 1995
Abstract
Assuming identical firms, a linear market demand function and a single factor of production, labour, we analyse the existence and stability of a homogeneous Cournot duopoly facing imperfect competition in both product and factor markets. Under the assumption of a fairly general wage function we are able to demonstrate local stability of the unique equilibrium, and global stability under the assumption of a convex reaction function.
Suggested Citation: Suggested Citation
Chiarella, Carl and Okuguchi, Koji, A Dynamic Analysis of Cournot Duopoly in Imperfectly Competitive Product and Factor Markets (March 1995). U. of Technology, Sydney Finance and Economics Working Paper No. 43, Available at SSRN: https://ssrn.com/abstract=882581 or http://dx.doi.org/10.2139/ssrn.882581
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