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On Nash–Cournot oligopolistic market equilibrium models with concave cost functions

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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.

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Authors and Affiliations

  1. Institute of Mathematics, 18 Hoang Quoc Viet, 10137, Hanoi, Vietnam

    Le D. Muu

  2. Département de Mathématiques, FUNDP unité d’Optimisation, Namur, Belgium

    V. H. Nguyen

  3. Financial and Accounting Institute, Co Nhue, Tu Liem, 10137, Hanoi, Vietnam

    N. V. Quy

Authors
  1. Le D. Muu
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  2. V. H. Nguyen
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  3. N. V. Quy
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Correspondence to Le D. Muu.

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Muu, L.D., Nguyen, V.H. & Quy, N.V. On Nash–Cournot oligopolistic market equilibrium models with concave cost functions. J Glob Optim 41, 351–364 (2008). https://doi.org/10.1007/s10898-007-9243-0

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  • DOI: https://doi.org/10.1007/s10898-007-9243-0

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