A curvature condition ensuring uniqueness of Cournot equilibrium, with applications to comparative statics

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Abstract

We study a curvature condition on demands that, with a cost assumption, ensures the uniqueness of Cournot equilibrium. For two firms, the condition is that industry marginal revenue rises no faster than price falls. The condition is weaker with more firms, and holds for any smooth demand curve, provided there are enough firms.

Original languageEnglish (US)
Pages (from-to)29-33
Number of pages5
JournalEconomics Letters
Volume41
Issue number1
DOIs
StatePublished - 1993

ASJC Scopus subject areas

  • Finance
  • Economics and Econometrics

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