Anything goes with heterogeneous, but not always with homogeneous oligopoly

Corchón and Mas-Colell [1996. On the stability of best reply and gradient systems with applications to imperfectly competitive models. Economics Letters 51, 59-65] showed that in heterogeneous oligopoly (almost) everything is possible. In order to obtain a similar result for homogeneous oligopoly, either one needs an externality in the cost function, or the reaction correspondences should fulfill a special condition.

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Year of publication:	2009
Authors:	Furth, Dave
Published in:	Journal of Economic Dynamics and Control. - Elsevier, ISSN 0165-1889. - Vol. 33.2009, 1, p. 183-203
Publisher:	Elsevier
Keywords:	Cournot oligopoly (In)Stability (Limit)Cycles Morse theory

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Type of publication:	Article
Source:	RePEc - Research Papers in Economics

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