S-Space College of Social Sciences (사회과학대학) Institute of Economics Research (경제연구소) Seoul Journal of Economics Seoul Journal of Economics vol.14(4) (Winter 2001)
Structurally Stable Nash Equilibria in Pure Strategies for a Model of Monopolistic Competition
- Kim, SungHyun
- Issue Date
- Seoul Journal of Economics, Vol.14 No.4, pp. 429-448
- A model of monopolistically competitive industry is formulated using the theory of large games. We show that an equilibrium exists for the game and that equilibrium correspondence is upper hemi-continuous. The model's implications are discussed, especially on existence and characteristics of structurally stable equilibria and on the relationship to Kumar and Satterthwaite's (1985) model.