Efficiency and surplus bounds in Cournot competition

• 成果类型: Article
• 署名作者: Anderson, SP; Renault, R
• 署名单位: University of Virginia; CY Cergy Paris Universite
• 刊物名称: JOURNAL OF ECONOMIC THEORY
• ISSN/ISSBN: 0022-0531
• DOI: 10.1016/S0022-0531(03)00089-9
• 发表日期: 2003
• 页码: 253-264
• 关键词: Cournot equilibrium; social surplus analysis; deadweight loss; market performance

摘要

We derive bounds on the ratios of deadweight loss and consumer surplus to producer surplus under Cournot competition. To do so, we introduce a parameterization of the degree of curvature of market demand using the parallel concepts of rho-concavity and rho-convexity. The more concave is demand, the larger the share of producer surplus in overall surplus, the smaller is consumer surplus relative to producer surplus, and the lower the ratio of deadweight loss to producer surplus. Deadweight loss over total potential surplus is at first increasing with demand concavity, then eventually decreasing. (C) 2003 Elsevier Science (USA). All rights reserved.