کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
966916 | 931122 | 2010 | 10 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
An existence theorem for Cournot-Walras equilibria in a monopolistically competitive economy
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کلمات کلیدی
موضوعات مرتبط
مهندسی و علوم پایه
ریاضیات
ریاضیات کاربردی
پیش نمایش صفحه اول مقاله
![عکس صفحه اول مقاله: An existence theorem for Cournot-Walras equilibria in a monopolistically competitive economy An existence theorem for Cournot-Walras equilibria in a monopolistically competitive economy](/preview/png/966916.png)
چکیده انگلیسی
We establish an existence theorem for Cournot-Walras equilibria in a monopolistically competitive economy. Instead of the traditional approach which depends on Kakutani's fixed point theorem, we employ the theories of aggregative games and best reply potential games. We show that, if there exists a representative consumer, under some conditions on preferences and production technologies, the profit maximization game is a (pseudo) best reply potential game. Hence, the existence of the equilibria is proved independently of the well known convex-valued assumption on the best responses. Although our assumptions result in the additive separability on a utility function of a representative consumer, the existence of increasing returns and indivisible productions can be allowed. In our model, it is shown that the game played by firms exhibits strategic substitutes whether the products of firms are substitutes or complements, and this plays an important role for the existence of the equilibria.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Mathematical Economics - Volume 46, Issue 6, 20 November 2010, Pages 1093-1102
Journal: Journal of Mathematical Economics - Volume 46, Issue 6, 20 November 2010, Pages 1093-1102
نویسندگان
Koji Shirai,