General equilibrium concepts under imperfect competition: A Cournotian approach

d'Aspremont-Lynden, Claude;Ferreira, RD.;Gerardvaret, LA.
(1997) Journal of Economic Theory — Vol. 73, n° 1, p. 199-230 (1997)

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Authors
  • d'Aspremont-Lynden, ClaudeUCLouvain
    Author
  • Ferreira, RD.
    Author
  • Gerardvaret, LA.
    Author
Abstract
In a pure exchange economy we propose a general equilibrium concept under imperfect competition, the ''Cournotian Monopolistic Competition. Equilibrium,'' and compare it to the Cournot-Walras and the Monopolistic Competition concepts. The advantage of the proposed concept is to require less computational ability from the agents. The comparison is made first through a simple example, then through a mon abstract concept, the P-equilibrium, based on a general notion of price coordination. (C) 1997 Academic Press.
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d’Aspremont-Lynden, C., Ferreira, RD., & Gerardvaret, LA. (1997). General equilibrium concepts under imperfect competition: A Cournotian approach. Journal of Economic Theory, 73(1), 199-230. https://doi.org/10.1006/jeth.1996.2222 (Original work published 1997)