Correlated equilibrium of Cournot oligopoly competition

Article Abstract:

A standard Cournot oligopoly model where players use strategies based on usual probability distributions has a unique correlated equilibrium. The model exclude deviation possibilities among players who are bound by the available correlations and probabilities. While oligopolies precludes supermodular games and provides for continuous strategies, duopolies have independently rationalizable correlated equilibria and follow supermodular games.

Competition (Economics), Game theory, Oligopolies

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Optimal public utility pricing: a general equilibrium analysis

Article Abstract:

A general equilibrium model that is characterized by the presence of several customers, firms with increasing returns to scale and natural monopolies that use technology that becomes more valuable as it gets bigger is discussed. The introduction of the concept of price regulation on such natural monopolies would result in a break-even situation. Such a situation satisfies the conditions of Pareto optimality.

Prices and rates, Pricing, Public utilities, Monopolies

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Competitive equilibrium in Sobolev spaces without bonds on short sales

Article Abstract:

An analysis of competitive equilibrium is presented. The analysis focuses on the development of such equilibrium in Sobolev spaces and removes the condition of bounds on short sales. The assumption of consumption sets with or without lowerbounds allows the inclusion of securities markets with extended asset range andshort sales. It is shown that pricing enters the same market space as commodities.

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