N-FIRM OLIGOPOLY WITH GENERAL ISO-ELASTIC DEMAND

Rodney Beard

Bulletin of Economic Research, 2015, vol. 67, issue 4, 336-345

Abstract: type="main">

In this note oligopoly with iso-elastic demand is analysed. Unlike previous studies we consider general iso-elastic demand rather than the case of unit elasticity. An n-firm Nash-Cournot equilibrium for the case of heterogeneous constant marginal costs is derived. The main result is a closed-form solution that shows the dependency of the equilibrium on the elasticity of demand and the share of industry costs. The result has applications to a wide range of areas in oligopoly theory by allowing comparisons across markets with different elasticities of demand.

Date: 2015
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