Abstract

This paper explores the symmetric Cournot–Walras equilibrium (SCWE) as an alternative concept to the asymmetric Cournot–Walras equilibrium (ACWE) à la Codognato–Gabszewicz. All agents have specialized initial endowments but generalized consumption activities: they are strategic suppliers of the only good they own and competitive demanders of all the other ones. Two kinds of results are showed in the framework of an example. First, the asymptotic identification of this strategic equilibrium with the competitive equilibrium when all markets are replicated and its asymptotic identification with the ACWE when all markets but one are replicated. Second, when the SCWE is compared to the Walrasian equilibrium (WE), two results are obtained in terms of welfare.

Full Text
Paper version not known

Talk to us

Join us for a 30 min session where you can share your feedback and ask us any queries you have

Schedule a call

Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.