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2014•International Journal of Advances in Management ScienceRequires access

Generalized Dynamic Cournot Model and Its Equilibriums

Mingshan Zhang, Yongzheng Li

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Abstract

In this paper, the dynamic Cournot model with firms more than two, which is generalized from the Cournot model for duopoly market, was considered. Then a mathematical formula of the general dynamic Cournot model was proposed, and the existence of the equilibrium solutions of this model was proved. Furthermore, a formula was developed to compute the equilibrium solutions. These results have essential significance to enrich the theory of Cournot model.

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What this paper is about

In this paper, the dynamic Cournot model with firms more than two, which is generalized from the Cournot model for duopoly market, was considered. Then a mathematical formula of the general dynamic Cournot model was proposed, and the existence of the equilibrium solutions of this model was proved. Furthermore, a formula was developed to compute the equilibrium solutions. These results have essential significance to enrich the theory of Cournot model.

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Available abstract

In this paper, the dynamic Cournot model with firms more than two, which is generalized from the Cournot model for duopoly market, was considered. Then a mathematical formula of the general dynamic Cournot model was proposed, and the existence of the equilibrium solutions of this model was proved. Furthermore, a formula was developed to compute the equilibrium solutions. These results have essential significance to enrich the theory of Cournot model.

Key concepts: Cournot competition, Mathematical economics, Economics, Computer science, Mathematics, Applied mathematics

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