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Cournot-Walras and Cournot equilibria in mixed markets: A comparison

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Summary

In this paper, we show that, in markets with a continuum of traders and atoms, the set of Cournot-Walras equilibria and the set of Cournot equilibria may be disjoint. We show also that, when the preferences of the traders are represented by Cobb-Douglas utility functions, the set of Cournot-Walras equilibria and the set of Cournot equilibria have a nonempty intersection.

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Authors and Affiliations

  1. CORE, Université Catholique de Louvain, B-1348, Louvain-la-Neuve, Belgium

    Giulio Codognato

  2. Università degli Studi di Udine, I-33100, Udine, Italy

    Giulio Codognato

Authors
  1. Giulio Codognato
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Additional information

I would like to thank R. Amir, B. de Meyer, J. J. Gabszewicz, J.-F. Mertens, H. Polemarchakis and L. Ventura for some helpful discussions about the questions examined in the present work.

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Codognato, G. Cournot-Walras and Cournot equilibria in mixed markets: A comparison. Econ Theory 5, 361–370 (1995). https://doi.org/10.1007/BF01215210

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  • DOI: https://doi.org/10.1007/BF01215210

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