BERTRAND COMPETITION WITH ASYMMETRIC MARGINAL COSTS
نویسندگان
چکیده
منابع مشابه
24. Pricing in Bertrand competition with increasing marginal costs
Bertrand competition under decreasing returns involves a wide interval of pure strategy Nash equilibrium prices. We first present results of experiments in which two, three and four identical firms repeatedly interact in this environment. More firms lead to lower average prices. However, prices remain substantially above the Walrasian level. With more than two firms the predominant market price...
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ژورنال
عنوان ژورنال: Economic Inquiry
سال: 2016
ISSN: 0095-2583
DOI: 10.1111/ecin.12328