Relative Profit Maximization and Bertrand Equilibrium with Convex Cost Functions
نویسندگان
چکیده
منابع مشابه
Relative Profit Maximization and Bertrand Equilibrium with Convex Cost Functions
This study derives pure strategy Bertrand equilibria in a duopoly in which two firms produce a homogeneous good with convex cost functions and seek to maximize the weighted sum of their absolute and relative profits. The study shows that there exists a range of equilibrium prices in duopolistic equilibria. This range of equilibrium prices is narrower and lower than the range of equilibrium pric...
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ژورنال
عنوان ژورنال: Economics
سال: 2014
ISSN: 1864-6042
DOI: 10.5018/economics-ejournal.ja.2014-34