Noncooperative equilibrium and Chamberlinian monopolistic competition

Article Abstract:

Firms in equilibrium may earn profits according to the pure-strategies equilibrium, where prices exceed the marginal cost which exists for a nonatomic Bertrand game in a Chamberlinian environment under dispersion of tastes with continuity of the tests density. Oliver Hart's model is reformulated so that uniformity need not be applied to the distribution of the m-tuple of differential commodities that concern consumers, and demand curves are permitted to vary among firms.

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Global instability in experimental general equilibrium: the Scarf example

Article Abstract:

A model of dynamic adjustment in which the standard tatonnement price adjustment process orbits around the competitive equilibrium, is proposed by Scarf. The predictions of ScarfEs model in a non-tatonnement experimental double auction are explored and a weak tendency for prices within a period to follow the path predicted by the model is observed.

Economics, Economic theory, Pricing policies

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The indeterminacy of equilibrium city formation under monopolistic competition and increasing returns

Article Abstract:

Using the Fujita-Krugman city formation model, the indefiniteness of equilibrium in city-economies with monopolistic competition is analyzed.

Taiwan, Hong Kong, Cities and towns, Varieties, Economic systems

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