The core in an oligopoly market with indivisibility
- Jingang Zhao
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This paper studies the core in an oligopoly market with indivisibility. It provides necessary and sufficient conditions for core existence in a general m-buyer n-seller market with indivisibility. When costs are dominated by opportunity costs (i.e., a firm's variable costs are sufficiently small), the core condition can be characterized by the primitive market parameters. In a 3-2 market with opportunity cost, the core is non-empty if and only if the larger seller's opportunity cost is either sufficiently large or sufficiently small.
- The core in an oligopoly market with indivisibility
Volume 16, Issue 1 , pp 181-198
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- Keywords and Phrases: Core, Empty-core market, Indivisibility, Market equilibrium, Oligopoly.
- JEL Classification Numbers: C62, C71, D43, L13.
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- Jingang Zhao (A1)
- Author Affiliations
- A1. Department of Economics, Ohio State University, 1945 North High Street, Columbus, OH 43210-1172 USA (e-mail: Zhao.18@Osu.edu), US