Equilibrium in Generalized Cournot and Stackelberg Models

V.A. Bulavsky, V.V. Kalashnikov

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    A model of an oligopolistic market with a homogeneous product is examined. Each subject of the model uses a conjecture about the market response to variations of its production volume. The conjecture value depends upon both the current total volume of production at the market and the subject's contribution into it. Under general enough assumptions, the equilibrium existence and uniqueness theorems are proven. Furthermore, a particular assumption { namely, constant elasticity, { is considered, and the generalized Stackelberg model comprising several leaders is investigated.
    Original languageEnglish
    Place of PublicationTilburg
    PublisherCentER, Center for Economic Research
    Number of pages28
    Publication statusPublished - 1999

    Publication series

    NameCentER Discussion Paper


    • oligopolistic market
    • conjectural variations
    • equilibrium
    • leaders and followers


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