2026-09-18T10:44:37Zhttps://gredos.usal.es/oai/request

oai:gredos.usal.es:10366/1541622025-04-30T20:05:14Zcom_10366_4283com_10366_4200com_10366_3946com_10366_3823col_10366_4284

Cournot equilibrium revisited Corchón, Luis C. Torregrosa Montaner, Ramón José Cournot equilibrium Laffer curve Tax reform Welfare losses We provide necessary and sufficient conditions for the existence of Cournot equilibrium for a class of demand functions when firms are identical and produce under constant returns to scale. We focus on inelastic and convex demand yielding non-concave profit functions. We show that equilibrium is unique, stable and yields well-behaved comparative statics. The model can yield huge welfare losses, non-downward sloping Laffer curves and tax reforms that are never Pareto improving. In the Appendix we generalize our results on existence and uniqueness to more general inverse demand functions and non-identical firms. 2024-01-12T09:11:09Z 2024-01-12T09:11:09Z 2020 info:eu-repo/semantics/article Torregrosa, R. J., y Corchón, L. C. (2020). Cournot equilibrium revisited. Mathematical Social Sciences, 106, (pp. 1-10). 0165-4896 http://hdl.handle.net/10366/154162 10.1016/j.mathsocsci.2020.01.012 eng https://doi.org/10.1016/j.mathsocsci.2020.01.012 MDM 2014_0431 ECO2017_87769_P S2015/HUM-3444 SA049G19 http://creativecommons.org/licenses/by-nc-nd/4.0/ info:eu-repo/semantics/openAccess Attribution-NonCommercial-NoDerivatives 4.0 Internacional