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A GENERAL CHARACTERIZATION OF MULTIPRODUCT COURNOT COMPETITION
Author(s) -
Fraja Giovanni
Publication year - 1994
Publication title -
bulletin of economic research
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.227
H-Index - 29
eISSN - 1467-8586
pISSN - 0307-3378
DOI - 10.1111/j.1467-8586.1994.tb00586.x
Subject(s) - cournot competition , convexity , economics , oligopoly , mathematical economics , competition (biology) , bertrand paradox (economics) , characterization (materials science) , inverse demand function , function (biology) , microeconomics , demand curve , bertrand competition , ecology , materials science , evolutionary biology , financial economics , biology , nanotechnology
The problem of oligopolistic competition between multiproduct firms is analysed using a general framework, where a given number of firms have access to the same technology, and play a Cournot game, by simultaneously choosing a quantity vector. Conditions guaranteeing the symmetry of the Cournot equilibrium are sought. The results obtained are very general, and can be given a straightforward natural economic interpretation, essentially requiring convexity of the cost function and the ruling out of pathological demand functions.