Imperfect Competition and General Equilibrium : Elements for a New Approach
(1999) Economics Beyond the Millennium — ISBN: [9780198292111], 121-151 (chap. 7), published
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- Abstract
- The authors study the introduction of price‐making agents into the general equilibrium model. They introduce a new equilibrium notion the "P equilibrium", which allows one to consider firms who consciously interact through prices in their own industry, but take the prices elsewhere as given. This removes some of the ambiguities present in other attempts to incorporate price setting into a general equilibrium setting.
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d’Aspremont-Lynden, C., Dos Santos Ferreira, R., & Gérard-Varet, L.-A. (1999). Imperfect Competition and General Equilibrium : Elements for a New Approach. In Alan P. Kirman and Louis-André Gérard-Varet (ed.), Economics Beyond the Millennium (p. 121-151 (chap. 7)). Oxford University Press. https://doi.org/10.1093/0198292112.003.0009