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

Edward Schlee

doi:10.1016/0165-1765(93)90107-N

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

Edward Schlee

Economics

Research output: Contribution to journal › Article › peer-review

3 Scopus citations

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 language	English (US)
Pages (from-to)	29-33
Number of pages	5
Journal	Economics Letters
Volume	41
Issue number	1
DOIs	https://doi.org/10.1016/0165-1765(93)90107-N
State	Published - 1993

ASJC Scopus subject areas

Finance
Economics and Econometrics

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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.",

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

Abstract

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