Titlebook: Disequilibrium Economics; Oligopoly, Trade, an Tönu Puu Book 2018 Springer International Publishing AG, part of Springer Nature 2018 Mathem

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978-3-030-08986-3Springer International Publishing AG, part of Springer Nature 2018

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Elements of Productiones of the constant elasticity of substitution function with negative exponents which have been hardly used at all, but which prove most useful if we want to incorporate capacity constraints in production and cost functions. Combined with “putty/clay” ideas of malleable versus fixed capital during in

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Cournot I: Constant Returnssp one needs not have a lifetime of indoctrination with economic theory to be convinced. Once nonlinear science took the stage it was mathematicians such as Rand, and Poston and Stewart, who started using applications to duopoly. Not altogether surprising, after all Cournot was a mathematician. The

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Cournot II: Returns to Scale and Stabilityhe proper rules for monopoly pricing and perfect competition pricing, assuming oligopoly price to be between these extremes. He considered the route in terms of adding new competitors to an already existent market, which, by the way, explained why he focused on quantity competition. Given the simple

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Hotelling Duopolywere separated in geographical space and thus had local monopoly areas. Local price, mill price accrued with transportation costs was what mattered for the consumers and this made it possible to charge different mill prices for the same commodity. If the transportation cost was very high then the mo

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Disequilibrium Trade and Pricing of Durable Commoditiesd hand value and that trade is possible through redistribution of fixed totals of commodity stocks. The first connotation in connection with stocks refers to financial items; bonds, shares, and money, items that only function as stores of value. However, we take a broader perspective, to commodities

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