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On Cournot-Nash-Walras Equilibria and Their Computation

Journal Article

Outrata Jiří, Ferris M.C., Červinka Michal, Outrata M.

serial: Set-Valued and Variational Analysis vol.24, 3 (2016), p. 387-402

project(s): GAP402/12/1309, GA ČR, GA15-00735S, GA ČR, SFG 2567, GA UK, DP-110102011, Australian Research Council

keywords: Cournot-Nash-Walras equilibrium, Existence, Stationarity conditions, Stability, MOPEC

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abstract (eng):

This paper concerns a model of Cournot-Nash-Walras (CNW) equilibrium where the Cournot-Nash concept is used to capture equilibrium of an oligopolistic market with non-cooperative players/firms who share a certain amount of a so-called rare resource needed for their production, and the Walras equilibrium determines the price of that rare resource. We prove the existence of CNW equilibria under reasonable conditions and exam- ine their local stability with respect to small perturbations of problem data. In this way we show the uniqueness of CNW equilibria under mild additional requirements. Finally, we suggest some efficient numerical approaches and compute several instances of an illustrative test example.


2012-12-21 16:10