On Cournot-Nash-Walras Equilibria and Their Computation

0460895 - ÚTIA 2017 RIV NL eng J - Journal Article
Outrata, Jiří - Ferris, M.C. - Červinka, Michal - Outrata, M.
On Cournot-Nash-Walras Equilibria and Their Computation.
Set-Valued and Variational Analysis. Roč. 24, č. 3 (2016), s. 387-402. ISSN 1877-0533. E-ISSN 1877-0541
R&D Projects: GA ČR GAP402/12/1309; GA ČR GA15-00735S
Grant - others:GA UK(CZ) SFG 2567; Australian Research Council(AU) DP-110102011
Institutional support: RVO:67985556
Keywords : Cournot-Nash-Walras equilibrium * Existence * Stationarity conditions * Stability * MOPEC
Subject RIV: BA - General Mathematics
Impact factor: 0.886, year: 2016
http://library.utia.cas.cz/separaty/2016/MTR/outrata-0460895.pdf

This paper concerns a model of Cournot-Nash-Walras (CNW) equilibrium where the Cournot-Nash concept is used to capture equilibrium of an oligopolistic market with non-cooperative players/firms who share a certain amount of a so-called rare resource needed for their production, and the Walras equilibrium determines the price of that rare resource. We prove the existence of CNW equilibria under reasonable conditions and exam- ine their local stability with respect to small perturbations of problem data. In this way we show the uniqueness of CNW equilibria under mild additional requirements. Finally, we suggest some efficient numerical approaches and compute several instances of an illustrative test example.
Permanent Link: http://hdl.handle.net/11104/0261532