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- W89622205 abstract "In this paper we verify the functioning of the standard neoclassical adjustment to equilibrium after a demand shock in a non-cooperative simultaneous Cournot duopoly with complete, symmetric and imperfect information. Our results show that in such a framework the adjustment to the long-run level of output by the entire industry or part of it is no longer guaranteed. We show that the size of the demand shock determines the nature and number of equilibria generated by strategic interaction, whereas the post-adjustment real wage level determines which equilibrium is actually obtained." @default.
- W89622205 created "2016-06-24" @default.
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- W89622205 date "2014-06-27" @default.
- W89622205 modified "2023-09-25" @default.
- W89622205 title "Adjustment to Equilibrium after a Demand Shock: A Strategic Interaction View" @default.
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- W89622205 doi "https://doi.org/10.6092/unibo/amsacta/4043" @default.
- W89622205 hasPublicationYear "2014" @default.
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