Brito, Paulo B.; Costa, Luís Filipe Pereira da; Dixon, … - Economics Section, Cardiff Business School - 2008
We consider a Ramsey model with a continuum of Cournotian industries where free entry generates an endogenous markup. The model produces two different regimes: monopoly and oligopoly. We study the non-smooth dynamics and analyze the global dynamics of the model, demonstrating the model exhibits...