On Cournot-Nash-Walras equilibria and their computation

Title: On Cournot-Nash-Walras equilibria and their computation
Creator: Outrata, Jiri; Ferris, Michael; Červinka, Michal; Outrata, Michal
Date: 2016
Type: Text; Journal article
Identifier: http://researchonline.federation.edu.au/vital/access/HandleResolver/1959.17/102916
Identifier: vital:10830
Identifier: https://doi.org/10.1007/s11228-016-0377-4
Identifier: ISSN:09276947
Abstract: 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 examine 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. © 2016, Springer Science+Business Media Dordrecht.
Publisher: Springer Netherlands
Relation: Set-Valued and Variational Analysis Vol. 24, no. 3 (2016), p. 387-402
Rights: This metadata is freely available under a CCO license
Subject: 0101 Pure Mathematics; Cournot-Nash-Walras equilibrium; Existence; MOPEC; Stability; Stationarity conditions
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