Dynamic analysis of Cournot model with multiple firms

The objective of this paper is to generalize the Cournot model with two firms to general dynamic Cournot model with firms more than two. Given the mathematical formula of the general dynamic Cournot model, it is proved that the equilibrium solution of this model always exists, and furthermore, the formula of the equilibrium solution is obtained. These results give contributions to the theory of Cournot model.