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- Title
Cournot-Bayesian General Equilibrium: A Radon Measure Approach.
- Authors
Carfì, David; Donato, Alessia
- Abstract
In this paper, we consider a Cournot duopoly, in which any firm does not know the marginal costs of production of the other player, as a Bayesian game. In our game, the marginal costs depend on two infinite continuous sets of states of the world. We shall study, before the general case, an intermediate case in which only one player, the second one, shows infinitely many types. Then, we shall generalize to the case in which both players show infinitely many types depending on the marginal costs, where the marginal costs are given by the nature and each actual marginal cost is known only by the respective player. We find, in both cases, the general Nash equilibrium.
- Subjects
GENERAL equilibrium theory (Economics); RADON measures; DUOPOLIES; DIRECT costing; INDUSTRIAL costs; NASH equilibrium
- Publication
Mathematics (2227-7390), 2019, Vol 7, Issue 1, p10
- ISSN
2227-7390
- Publication type
Article
- DOI
10.3390/math7010010