Convergence analysis and algorithmic implications of two dynamic processes toward an oligopoly-competitive fringe equilibrium solution
type: Item
instance of: scholarly article
title: Convergence analysis and algorithmic implications of two dynamic processes toward an oligopoly-competitive fringe equilibrium solution
zbMATH Open document ID: 0627.90008
DOI: 10.1016/0305-0548(88)90030-5
author: Hanif D. Sherali
author: Allen L. Soyster
published in: Computers \& Operations Research
publication date: 1988-01-01T00:00:00Z
review text: This paper considers a market in which an oligopoly coexists along with a competitive fringe, all firms supplying a homogeneous product noncooperatively. The oligopolgy is comprised of a few major firms whereas the competitive fringe is comprised of several smaller firms. For such a situation, two dynamic production-level readjustment processes are described. One of these processes is proven to converge to an equilibrium solution, whereas for the other process, it is demonstrated that a state of disequilibrium may persist. Algorithmic implications as well as economic interpretations of these two processes are provided. The presentation is exemplified through numericcal examples and graphical illustrations.
Mathematics Subject Classification ID: 91B24
zbMATH DE Number: 4020787
zbMATH Keywords: oligopoly
zbMATH Keywords: competitive fringe
zbMATH Keywords: dynamic production-level readjustment processes
MaRDI profile type: Publication
full work available at URL: 0305-0548(88)90030-5
OpenAlex ID: W2008420406
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description: scientific article; zbMATH DE number 4020787