TY - JOUR A1 - Cánovas Peña, José Salvador AU - Puu, Tönu AU - Ruiz Marín, Manuel T1 - The Cournot-Theocharis Problem Reconsidered Y1 - 2008 SN - 0960-0779 UR - http://hdl.handle.net/10317/1001 AB - In 1959 Theocharis [10] showed that with linear demand and constant marginal costs Cournot equilibrium is destabilized when the competitors become more than three. With three competitors the Cournot equilibrium point becomes neutrally stable, so, even then, any perturbation throws the system into an endless oscillation. Theocharis's argument was in fact proposed already in 1939 by Palander [4]. None of these authors considered the global dynamics of the system, which necessarily becomes nonlinear when consideration is taken of the facts that prices, supply quantities, and profits of active firms cannot be negative. In the present paper we address the global dynamics. KW - Economía Aplicada KW - Demanda lineal KW - Competidores KW - Punto Cournot KW - Argumento Theocharis KW - Dinámica global KW - Linear demand KW - Competitors KW - Cournot point KW - Marginal costs KW - Theocharis's argument LA - eng PB - Elsevier ER -