Jump to ContentJump to Main Navigation

Online

49,00 € / $74.00*

* Prices subject to change. Shipping costs will be added if applicable.
Publication Date:
December 2006
ISSN:
1935-1704
DOI:
10.2202/1534-598X.1333

See all formats and pricing

Online
Individual Subscription Online only
Euro [D] 49.00
RRP for USA, Canada, Mexico
US$ 74.00 *
Print
Individual Subscription Online only
Euro [D] 234.00
RRP for USA, Canada, Mexico
US$ 315.00 *
Print + Online
Individual Subscription Online only
Euro [D] 281.00
RRP for USA, Canada, Mexico
US$ 378.00 *
*Prices subject to change. Shipping costs will be added if applicable.

Ed. by Cervellati, Matteo / Fong, Yuk-fai / Peeters, Ronald / Puzzello , Daniela / Rivas, Javier / Schipper, Burkhard

1 Issue per year

Increased IMPACT FACTOR 2011: 0.490

Equilibrium Uniqueness in a Cournot Model with Demand Uncertainty

Johan N.M. Lagerlöf1

1Royal Holloway, University of London; and CEPR, johan.lagerlof@econ.ku.dk

Citation Information: Topics in Theoretical Economics. Volume 6, Issue 1, Pages 1–6, ISSN (Online) 1534-598X, DOI: 10.2202/1534-598X.1333, December 2006

Publication History:
Published Online:
2006-12-04

If Cournot oligopolists face uncertainty about the intercept of a linear demand function and if the realized market price must be non-negative, then expected demand becomes convex, which can create a multiplicity of equilibria. This note shows that if the distribution of the demand intercept has a monotone hazard rate and if another, rather weak, assumption is satisfied, then uniqueness of equilibrium is guaranteed.

Keywords: Cournot model; non-negativity constraint; demand uncertainty; unique equilibrium

Comments (0)

Please log in or register to comment.