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The core in an oligopoly market with indivisibility
Authors:Jingang Zhao
Institution:(1) Department of Economics, Ohio State University, 1945 North High Street, Columbus, OH 43210-1172 USA (e-mail: Zhao.18@Osu.edu), US
Abstract:Summary. This paper studies the core in an oligopoly market with indivisibility. It provides necessary and sufficient conditions for core existence in a general m-buyer n-seller market with indivisibility. When costs are dominated by opportunity costs (i.e., a firm's variable costs are sufficiently small), the core condition can be characterized by the primitive market parameters. In a 3-2 market with opportunity cost, the core is non-empty if and only if the larger seller's opportunity cost is either sufficiently large or sufficiently small. Received: June 9, 1999; revised version: October 22, 1999
Keywords:and Phrases: Core  Empty-core market  Indivisibility  Market equilibrium  Oligopoly  
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