2009
DOI: 10.2139/ssrn.1477450
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An Existence Theorem for Cournot-Walras Equilibria in a Monopolistically Competitive Economy

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“…13 We define the exchange economy E ¼ fðu i ðÁÞ; ðx 0 i ; y 0 i ÞÞ mþn i¼1 g as in the 12 A further shortcoming of the Cournot-Walras approach is that it is extremely challenging to obtain a general existence result because oligopolists influence prices by manipulating the Walras price correspondence which may fail to be continuous unless strict assumptions are imposed on the set of pricetaking agents. Nevertheless, some existence results have been obtained in particular frameworks: Bonisseau and Florig (2003) proved the existence of a Cournot-Walras equilibrium in linear exchange economies; Codognato and Julien (2013) proved the existence in mixed exchange economies where agents on the continuum have Cobb-Douglas utility functions; and Shirai (2010) proves the existence of a Cournot-Walras equilibrium in production economies. 13 Bloch and Ferrer (2001a) and Dickson and Hartley (2013b) also consider the case in which agents are endowed with both commodities, i.e.…”
Section: Simultaneous Bilateral Oligopolymentioning
confidence: 99%
“…13 We define the exchange economy E ¼ fðu i ðÁÞ; ðx 0 i ; y 0 i ÞÞ mþn i¼1 g as in the 12 A further shortcoming of the Cournot-Walras approach is that it is extremely challenging to obtain a general existence result because oligopolists influence prices by manipulating the Walras price correspondence which may fail to be continuous unless strict assumptions are imposed on the set of pricetaking agents. Nevertheless, some existence results have been obtained in particular frameworks: Bonisseau and Florig (2003) proved the existence of a Cournot-Walras equilibrium in linear exchange economies; Codognato and Julien (2013) proved the existence in mixed exchange economies where agents on the continuum have Cobb-Douglas utility functions; and Shirai (2010) proves the existence of a Cournot-Walras equilibrium in production economies. 13 Bloch and Ferrer (2001a) and Dickson and Hartley (2013b) also consider the case in which agents are endowed with both commodities, i.e.…”
Section: Simultaneous Bilateral Oligopolymentioning
confidence: 99%