Cournot-Nash equilibria in limit exchange economies with complete markets: A comparison between two models (Q1566897): Difference between revisions

The referred paper offers a comparison of two models of noncooperative exchange with an atomless continuum of traders. The existence of a mechanism determinating prices and assigning final holdings after receiving the bids of all traders is assumed. One of the considered models deals with separate exchange and pricing for each pair of commodities, meanwhile the other model assumes the existence of a single price system equating the value ot total amounts of bids to the value of the total amount available of that commodity. The main results formulate the mutual relation between the Cournot-Nash equilibria of both models.