Oligopolistic and competitive behavior of spatially separated markets |
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| Institution: | 1. Division of GI/Endocrine Surgery, Department of Surgery, Columbia University Vagelos College of Physicians and Surgeons, New York, NY, USA;2. Division of Hepatobiliary & Pancreatic Surgery, Department of Surgery, Seoul National University College of Medicine, Seoul, Korea;1. II Department of Cardiology in Zabrze, Medical University of Silesia, ul. Skłodowskiej 10, 41-800 Zabrze, Poland;2. Department of Biochemistry in Zabrze, Medical University of Silesia, ul. Jordana 19, 41-800 Zabrze, Poland;3. Dr n. med. FRYDA Medical Laboratory Ltd., ul. Skłodowskiej 10, 41-800 Zabrze, Poland;4. Department of Cardiology, Congenital Heart Diseases and Electrotherapy, Medical University of Silesia, ul. Szpitalna 2, 41-800 Zabrze, Poland |
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| Abstract: | We examine the connection between Cournot oligopoly and perfect competition by showing that a fairly general oligopoly model with spatially separated markets generates a general spatial price equilibrium model as an extreme, limiting case. Our analysis depends crucially on the fact that the governing equilibrium conditions of both the oligopoly and the spatial price equilibrium problem can be formulated as variational inequalities. |
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