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On Cournot-Nash-Walras Equilibria and Their Computation
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SYSNO ASEP 0460895 Document Type J - Journal Article R&D Document Type Journal Article Subsidiary J Článek ve WOS Title On Cournot-Nash-Walras Equilibria and Their Computation Author(s) Outrata, Jiří (UTIA-B) RID, ORCID
Ferris, M.C. (US)
Červinka, Michal (UTIA-B) RID, ORCID
Outrata, M. (CZ)Number of authors 4 Source Title Set-Valued and Variational Analysis. - : Springer - ISSN 1877-0533
Roč. 24, č. 3 (2016), s. 387-402Number of pages 16 s. Publication form Print - P Language eng - English Country NL - Netherlands Keywords Cournot-Nash-Walras equilibrium ; Existence ; Stationarity conditions ; Stability ; MOPEC Subject RIV BA - General Mathematics R&D Projects GAP402/12/1309 GA ČR - Czech Science Foundation (CSF) GA15-00735S GA ČR - Czech Science Foundation (CSF) Institutional support UTIA-B - RVO:67985556 UT WOS 000382093800002 EID SCOPUS 84983757591 DOI 10.1007/s11228-016-0377-4 Annotation 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. Workplace Institute of Information Theory and Automation Contact Markéta Votavová, votavova@utia.cas.cz, Tel.: 266 052 201. Year of Publishing 2017
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