English, Article, Journal or magazine article edition: Intertemporal Cournot and Walras Equilibrium: An Illustration Manjira Datta; Tito Cordella

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Bookmark: http://trove.nla.gov.au/version/153446
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Intertemporal Cournot and Walras Equilibrium: An Illustration
Author
  • Manjira Datta
  • Tito Cordella
Physical Description
  • preprint
Notes
  • RePEc:wop:astewp:9713
  • RePEc:upf:upfgen:125
  • In an intertemporal general equilibrium framework, we compare a Cournot equilibrium to the Walras equilibrium. The Cournot agents trade and invest less than the Walras agents. This generates an ineffciency which does not vanish as the number of Cournot agents tends to infinity. A larger number of strategic Cournot agents implies that the amount of trade (relative to their aggregate consumption) increases (i.e., moving towards the Walrasian amount), but their investment (relative to the stock) decreases (i.e., moving away from the Walrasian amount).
  • RePEc:asu:wpaper:2132843
Language
  • English
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