In a recent paper Bagwell (1995) pointed out that only the Cournot outcome, but not the Stackelberg outcome, can be supported by a pure Nash equilibrium when actions of the Stackelberg leader are observed with the slightest error. The Stackelberg outcome, however, remains close to the outcome of a mixed equilibrium. We compare the predictions in various classes of evolutionary and learning proc...

This paper provides a proof of a condition for uniqueness of Cournot equilibrium. Existing proofs of the same condition have shown it to imply a unique element within a limited class of Cournot equilibria, but leave open the possibility of other purestrategy equilibria outside this class. A simpler approach permits us to derive the condition and to rule out the possibility of these other equili...

We investigate the welfare effect of union activity in a relatively new oligopoly model, the Cournot-Bertrand model, where one firm competes in output (a la Cournot) and the other firm competes in price (a la Bertrand). The Nash equilibrium prices, outputs, and profits are quite diverse in this model, with the competitive advantage going to the Cournot-type competitor. A comparison of the resul...

Since the Cournot-Nash and Arrow-Debreu-McKenzie contributions to equilibrium theory with complete information, two main advances in equilibrium theory with differential information appeared. The first one is by Harsanyi (1967), who introduces differential information into the Cournot-Nash model, and the second one is by Radner (1968), who introduces differential information into the Arrow-Debr...

An adaptive oligopoly model, where the demand function is isoelastic and the competitors operate under constant marginal costs, is considered. The Cournot equilibrium point then loses stability through a subcritical Neimark bifurcation. The present paper focuses some global bifurcations, which precede the Neimark bifurcation, and produce other attractors which coexist with the still attractive ...