Chapter

Imperfect Competition and General Equilibrium

Jean J. Gabszewicz

in Strategic Interaction and Markets

Published in print January 2000 | ISBN: 9780198233411
Published online November 2003 | e-ISBN: 9780191596292 | DOI: http://dx.doi.org/10.1093/0198233418.003.0006
Imperfect Competition and General Equilibrium

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Extends the analysis of strategic competition when competition takes place simultaneously in several markets, as in the exchange process among several goods and several agents. First, the barter mechanism underlying the game‐theoretic concept of core is applied to strategic exchange. Finally, using the same framework of an exchange economy, we illustrate how the notion of Cournot equilibrium can be extended to general equilibrium analysis.

Keywords: barter; core; Cournot‐Walras equilibrium; exchange; game theory; general equilibrium; imperfect competition

Chapter.  6651 words.  Illustrated.

Subjects: Microeconomics

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