Title of article :
Differentiable comparative statics with payoff functions not differentiable everywhere
Author/Authors :
Corchon، Luis C. نويسنده ,
Issue Information :
روزنامه با شماره پیاپی سال 2001
Abstract :
In this note we consider Cournot oligopoly. Due to the consideration of several consumers and/or technologies, the profit function is not differentiable everywhere. We show that Cournot equilibrium never occurs in outputs where profit functions are not-differentiable. This result validates the procedure of differentiating profit functions to perform comparative statics in models where profit functions are not differentiable everywhere.
Keywords :
Distance , Function , Homotheticity , Directional , translation
Journal title :
Economics Letters
Journal title :
Economics Letters