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- Title
The Effects of Delays on the Stability and Rate of Convergence to Equilibrium of Oligopolies.
- Authors
Russell, Allen M.; Rickard, John A.; Howroyd, T.D.
- Abstract
The stability of oligopolies is investigated using the Cournot strategy and a general output adjustment procedure. Information delays are incorporated in the adjustment procedure and their specific effects upon the dynamic stability of oligopolies is investigated. The stability of equilibrium for discrete models is unaffected by information delays and remoteness of planning horizons; however the rate of convergence to equilibrium may be slowed. For continuous models with delays, some restraints are required for stability.
- Subjects
OLIGOPOLIES; ECONOMIC equilibrium
- Publication
Economic Record, 1986, Vol 62, Issue 177, p194
- ISSN
0013-0249
- Publication type
Article
- DOI
10.1111/j.1475-4932.1986.tb00894.x