Abstract
We consider Nash–Cournot oligopolistic market equilibrium models with concave cost functions. Concavity implies, in general, that a local equilibrium point is not necessarily a global one. We give conditions for existence of global equilibrium points. We then propose an algorithm for finding a global equilibrium point or for detecting that the problem is unsolvable. Numerical experiments on some randomly generated data show efficiency of the proposed algorithm.
Original language | English |
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Pages (from-to) | 351-364 |
Journal | Journal of Global Optimization |
Volume | 41 |
Publication status | Published - 2007 |