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| Author: | Cordella, T. Datta, M. |
| Title: | Intertemporal Cournot and Walras equilibria: an illustration |
| Journal: | International Economic Review
2002 : FEB, VOL. 43:1, p. 137-153 |
| Index terms: | Equilibrium theory Investment analysis Competitive equilibrium |
| Language: | eng |
| Abstract: | In an intertemporal general equilibrium framework, the authors compare a Cournot equilibrium to the Walras equilibrium. The Cournot agents tarde and invest less than the Walras agents. This generates an inefficiency that does not vanish as the number of Cournot agents tends to infinity. A large number of strategic Cournot agents tends to infinity. A larger number of strategic Cournot agents implies that the amount of trade increases, but their investment decreases. |
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