Abstract
We first study in this chapter an economy whose agents are consumers as well as separable-fixed-cost firms such as those we have just considered. Each product, however, has just one possible producer. We consider, in particular, a state of the economy in which every product is produced, every firm’s profit is zero†, and all markets—including the markets for goods bought by consumers —are cleared. We shall prove that such a state exists when certain additional conditions, not considered in the preceding chapter, are imposed on production, on consumers’ demand, and on both together.
Keywords
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.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
Author information
Authors and Affiliations
Rights and permissions
Copyright information
© 1974 Springer-Verlag Berlin · Heidelberg
About this chapter
Cite this chapter
Marschak, T., Selten, R. (1974). Oligopolistic Economies as Games of Limited Information: Existence of Equilibria. In: General Equilibrium with Price-Making Firms. Lecture Notes in Economics and Mathematical Systems, vol 91. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-65802-0_5
Download citation
DOI: https://doi.org/10.1007/978-3-642-65802-0_5
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-540-06624-8
Online ISBN: 978-3-642-65802-0
eBook Packages: Springer Book Archive