%0 Journal Article 
%A Cánovas Peña, José Salvador
%A Puu, Tönu
%A Ruiz Marín, Manuel
%T The Cournot-Theocharis Problem Reconsidered
%D 2008
%@ 0960-0779
%U http://hdl.handle.net/10317/1001
%X 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.
%K Economía Aplicada
%K Demanda lineal
%K Competidores
%K Punto Cournot
%K Argumento Theocharis
%K Dinámica global
%K Linear demand
%K Competitors
%K Cournot point
%K Marginal costs
%K Theocharis's argument
%~ GOEDOC, SUB GOETTINGEN