Exploring general equilibrium points for Cournot model

DOI10.1155/2018/7630395MaRDI QIDQ1727243zbMATH OpenOpenAlexWikidataFDO

Authors Bingyuan Gao, Yueping Du

Publication date 20 February 2019

Published in Discrete Dynamics in Nature and Society (Search for Journal in Brave)

Copyright license Creative Commons Attribution 4.0 International

Full work available at URL https://doi.org/10.1155/2018/7630395

Mathematics Subject Classification ID

Other game-theoretic models (91A40) Special types of economic equilibria (91B52) Special types of economic markets (including Cournot, Bertrand) (91B54)

Review text

Summary: In Cournot model, when there are many competitions, the competitive equilibrium becomes chaotic. It is extremely difficult to derive the general equilibrium points. There is no previous research to explore a further problem with the general equilibrium points of n-contenders in Cournot model. In this paper, a general equilibrium Cournot game is proposed based on an inverse demand function. A market spatial structure model is built. Intermediate value theorem, as a realistic method, is introduced to handle a general competitive equilibrium in Cournot model. The number and stability in general equilibrium points are detected by means of celestial motion theory and spatial agglomeration competition model. The existence of general equilibrium points and the stability of Cournot equilibrium points, which are new and future complement of previously known results. Numerical simulations are given to support the research results.

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Cited in

(3)

• Studying the Nash equilibrium points in the duopoly model
• Equilibrium further studied for combined system of Cournot and Bertrand: a differential approach
• General equilibrium of Bertrand game: a spatial computational approach

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