کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
469517 | 698321 | 2009 | 13 صفحه PDF | دانلود رایگان |
![عکس صفحه اول مقاله: Stability in a non-autonomous iterative system: An application to oligopoly Stability in a non-autonomous iterative system: An application to oligopoly](/preview/png/469517.png)
This paper reconsiders the relation between oligopoly and perfect competition, more specifically the problem of emergent instability when the number of competitors increases, as pointed out by several authors. A process of mixed short and long run dynamics is set up. In the short run the competitors are subject to capacity limits due to fixed capital stocks, in the long run they may renew these stocks and so in the moments of reinvestment have access to a constant returns technology. The evolution of the system depends on the number of competitors, the interval between their entry on the market, and the durability of capital. The main result is a theorem showing that if capital has a durability of more periods than the spacing of reinvestment times among the firms, multiplied with their total number, then the system always contracts to the Cournot equilibrium state.
Journal: Computers & Mathematics with Applications - Volume 58, Issue 10, November 2009, Pages 2022–2034