Artikel
Generic regularity of differentiated product oligopolies
In oligopoly models with differentiated products, producers face a market demand function that reflects the preferences of consumers. However, typical assumptions on preferences place only weak restrictions on the shape of aggregate demand. This may result in profit functions that are not strictly quasiconcave, in best-reply correspondences that are not differentiable, and in equilibria that are not robust to perturbations. This paper establishes differentiability and robustness as a generic property: for an open, dense set of economies, best replies are differentiable in a neighborhood of equilibria, which is a precondition for comparative statics. All these economies have a finite number of equilibria in pure strategies.
- Sprache
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Englisch
- Erschienen in
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Journal: Economic Theory ; ISSN: 1432-0479 ; Volume: 71 ; Year: 2020 ; Issue: 1 ; Pages: 341-374 ; Berlin, Heidelberg: Springer
- Klassifikation
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Wirtschaft
Market Structure, Pricing, and Design: Oligopoly and Other Forms of Market Imperfection
General Equilibrium and Disequilibrium: General
Exchange and Production Economies
- Thema
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Comparative statics
Imperfect competition
Cournot–Walras equilibrium
Regular production economy
- Ereignis
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Geistige Schöpfung
- (wer)
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Zierhut, Michael
- Ereignis
-
Veröffentlichung
- (wer)
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Springer
- (wo)
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Berlin, Heidelberg
- (wann)
-
2020
- DOI
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doi:10.1007/s00199-020-01249-1
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Artikel
Beteiligte
- Zierhut, Michael
- Springer
Entstanden
- 2020
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