Free entry and stability in a Cournot model (Q1087462)
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scientific article; zbMATH DE number 3989055
| Language | Label | Description | Also known as |
|---|---|---|---|
| English | Free entry and stability in a Cournot model |
scientific article; zbMATH DE number 3989055 |
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Free entry and stability in a Cournot model (English)
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1986
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In a Cournot model for a single homogeneous good, we study simultaneously two stability properties of a Cournot equilibrium: the stability of a continuous quantity adjustment process with a fixed number of firms and the stability relative to entry. Under usual assumptions, we show that these two properties are consistent - i.e., there exists an equilibrium that is stable in both senses - and determine quite sharply the number of active firms.
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free entry
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Cournot model
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single homogeneous good
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stability properties
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Cournot equilibrium
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continuous quantity adjustment process
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