The core in an oligopoly market with indivisibility |
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Authors: | Jingang Zhao |
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Institution: | (1) Department of Economics, Ohio State University, 1945 North High Street, Columbus, OH 43210-1172 USA (e-mail: Zhao.18@Osu.edu), US |
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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 |
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Keywords: | and Phrases: Core Empty-core market Indivisibility Market equilibrium Oligopoly |
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