On the controllability of discrete dynamic oligopolies under adaptive expectations

摘要

The complete controllability of single-product dynamic oligopolies is examined under discrete time scales with adaptive expectations. We prove that, in the case of a duopoly, the system is completely controllable unless the two firms are symmetric. For N ⩾ 3, a sufficient and necessary controllability condition is derived. In the special case of unit speeds of adjustments, this paper generalizes our earlier results on Cournot expectations.