REVEALED PREFERENCE TESTS OF THE COURNOT MODEL

• 成果类型: Article
• 署名作者: Carvajal, Andres; Deb, Rahul; Fenske, James; Quah, John K. -H.
• 署名单位: Western University (University of Western Ontario); University of Toronto; University of Oxford
• 刊物名称: ECONOMETRICA
• ISSN/ISSBN: 0012-9682
• DOI: 10.3982/ECTA10175
• 发表日期: 2013
• 页码: 2351-2379
• 关键词: game-theory; BEHAVIOR; restrictions; oligopoly; MARKETS; cartel; price; opec; GARP

摘要

The aim of this paper is to develop revealed preference tests for Cournot equilibrium. The tests are akin to the widely used revealed preference tests for consumption, but have to take into account the presence of strategic interaction in a game-theoretic setting. The tests take the form of linear programs, the solutions to which also allow us to recover cost information on the firms. To check that these nonparametric tests are sufficiently discriminating to reject real data, we apply them to the market for crude oil.