In this note we revisit the result by Menezes and Quiggin (2012), showing that under linear supply function competition, the same Nash equilibrium results when firms choose slopes or intercepts of their supply functions. This is because the first order conditions emerging in the two strategy spaces are not linearly independent.
On the Properties of Linear Supply Functions in Oligopoly / F Delbono; L Lambertini. - In: ECONOMICS LETTERS. - ISSN 0165-1765. - STAMPA. - 136:(2015), pp. 22-24. [10.1016/j.econlet.2015.08.027]
On the Properties of Linear Supply Functions in Oligopoly
DELBONO, FLAVIO;LAMBERTINI, LUCA
2015
Abstract
In this note we revisit the result by Menezes and Quiggin (2012), showing that under linear supply function competition, the same Nash equilibrium results when firms choose slopes or intercepts of their supply functions. This is because the first order conditions emerging in the two strategy spaces are not linearly independent.File in questo prodotto:
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On the properties of linear supply_postprint.pdf
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