New Oligopoly Model Proves Equilibrium Existence and Uniqueness Theorems
The article explores how companies in a market with similar products make decisions on how much to produce. They use a model called the Cournot model, where each company guesses how the market will react to changes in their production. The study shows that under certain conditions, there is only one possible outcome for production levels. The researchers also use a theory called topological degree theory to prove that a balance point exists in the market.