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

Authors:
Le D. Muu;V. H. Nguyen;N. V. Quy
Affiliations:
Institute of Mathematics, Hanoi, Vietnam 10137;Département de Mathématiques, FUNDP unité d'Optimisation, Namur, Belgium;Financial and Accounting Institute, Co Nhue, Tu Liem, Hanoi, Vietnam 10137
Venue:
Journal of Global Optimization
Year:
2008

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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.