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Annals of Operations Research

, Volume 89, Issue 0, pp 165–173 | Cite as

Nonlinear dynamics in the Cournot modelwithout full information

  • D. Léonard
  • K. Nishimura
Article

Abstract

A Cournot model with an arbitrary nonlinear demand function and where firms do notobserve their rival's actions directly is shown to allow mistaken beliefs to persist. Thesealter the original equilibrium state and, in a range of beliefs, destroy its stability and createcycles. The dynamics of the Cournot model are therefore fundamentally affected.

Keywords

Equilibrium State Nonlinear Dynamic Demand Function Full Information Mistaken Belief 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Kluwer Academic Publishers 1999

Authors and Affiliations

  • D. Léonard
  • K. Nishimura

There are no affiliations available

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