S-Space College of Social Sciences (사회과학대학) Institute of Economics Research (경제연구소) Seoul Journal of Economics (SJE) Seoul Journal of Economics vol.14(4) (Winter 2001)
Structurally Stable Nash Equilibria in Pure Strategies for a Model of Monopolistic Competition
- 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.