Cournotian duopolistic firms may be Walrasian: a case in the Gabszewicz and Vial model
Francesca Busetto,
Giulio Codognato,
Giorgia Pavan
et al.
Abstract:In this paper, we present a refreshed version of the original model proposed by Gabszewicz and Vial (J Econ Theory 4:381–400, 1972) and we use their main example to review the main theoretical issues related to the notion of Cournot-Walras equilibrium. We compute, in the Gabszewicz and Vial main example, two different Cournot-Walras equilibria associated with different normalization rules. Moreover, in the same example, we compute a Utility-Cournot-Walras equilibrium as defined by Grodal (in: Allen (ed) Econom… Show more
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