A simple proof of an equilibrium uniqueness result by Murphy, Sherali and Soyster for homogeneous Cournot oligopolies with concave industry revenue function and convex cost functions is provided. Adapting this proof, a substantial improvement of their result is obtained; the improvement concerns capacity constraints, non-differentiable cost functions and industry revenue functions that are discontinuous at 0.
Cournot equilibrium uniqueness in case of concave industry revenue: a simple proof / Federico Quartieri; Pierre von Mouche. - In: ECONOMICS BULLETIN. - ISSN 1545-2921. - ELETTRONICO. - 35:(2015), pp. 1299-1305.
Cournot equilibrium uniqueness in case of concave industry revenue: a simple proof
Federico Quartieri;
2015
Abstract
A simple proof of an equilibrium uniqueness result by Murphy, Sherali and Soyster for homogeneous Cournot oligopolies with concave industry revenue function and convex cost functions is provided. Adapting this proof, a substantial improvement of their result is obtained; the improvement concerns capacity constraints, non-differentiable cost functions and industry revenue functions that are discontinuous at 0.
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