Efficiency loss in a Cournot oligopoly with convex market demand
We consider a Cournot oligopoly model where multiple suppliers (oligopolists) compete by choosing quantities. We compare the social welfare achieved at a Cournot equilibrium to the maximum possible, for the case where the inverse market demand function is convex. We establish a lower bound on the ef...
Main Authors: | , |
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Format: | Article |
Language: | English |
Published: |
Elsevier BV,
2020-12-22T20:49:21Z.
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Subjects: | |
Online Access: | Get fulltext |