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Delbono, Flavio ; Lambertini, Luca
(2015)
Cournot Retrouvé under Price or Supply Function Competition.
Bologna:
Dipartimento di Scienze economiche DSE,
p. 18.
DOI 10.6092/unibo/amsacta/4231.
In: Quaderni - Working Paper DSE
(1003).
ISSN 2282-6483.
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Abstract
This paper aims at participating in the long-lasting debate about the analytical foundations of the Cournot equilibrium. In a homogeneous oligopoly, under standard regularity conditions, we prove that Cournot-Nash emerges both under (i) price competition and Cournot conjectures; and (ii) supply function competition with ex post market clearing. We demonstrate both results within a model of exogenous product differentiation.
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