Dynamic Behaviour in Large Markets for Differentiated Products.

An important question is how well competitive models approximate models of large finite economies. For a class of differentiated products models, static Nash equilibria, if they exist, always converge to competition as the number of firms increases. Dynamic Nash equilibria need not so converge. Easily checked conditions for convergence to competition do, however, exist. Copyright 1987 by The Review of Economic Studies Limited.

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Year of publication:	1987
Authors:	Lambson, Val Eugene
Published in:	Review of Economic Studies. - Wiley Blackwell, ISSN 0034-6527. - Vol. 54.1987, 2, p. 293-300
Publisher:	Wiley Blackwell

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Extent:	application/pdf
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005673051