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Approximate Bertrand Equilibria in a Replicated Industry

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  • Dixon, Huw

Abstract

The paper considers the existence and properties of approximate Bertrand equilibr ia in a replicated industry. Price setting firms produce a homogeneous product w ith weakly convex costs. The main results are that an e-equilibrium exists if th e industry is large enough; and that if the e is small enough, and the industry large enough, any e-equilibrium is approximately competitive. These resultsdepe nd on how contingent demand is specified. Copyright 1987 by The Review of Economic Studies Limited.

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Bibliographic Info

Article provided by Wiley Blackwell in its journal Review of Economic Studies.

Volume (Year): 54 (1987)
Issue (Month): 1 (January)
Pages: 47-62

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Handle: RePEc:bla:restud:v:54:y:1987:i:1:p:47-62

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Cited by:
  1. Deneckere, Raymond J & Kovenock, Dan, 1992. "Price Leadership," Review of Economic Studies, Wiley Blackwell, vol. 59(1), pages 143-62, January.
    • Raymond Deneckere & Dan Kovenock, 1988. "Price Leadership," Discussion Papers 773, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  2. Roberts Waddle, 2005. "Strategic Profit Sharing Between Firms: The Bertrand Model," Economics Working Papers we050902, Universidad Carlos III, Departamento de Economía.
  3. Marcel Canoy & S. Onderstal, 2003. "Tight oligopolies: in search of proportionate remedies," CPB Document 29, CPB Netherlands Bureau for Economic Policy Analysis.
  4. Roy Chowdhury, Prabal, 2008. "Bertrand-Edgeworth equilibrium with a large number of firms," International Journal of Industrial Organization, Elsevier, vol. 26(3), pages 746-761, May.
  5. García Díaz, Antón & Kujal, Praveen, . "List princing and pure strategy outcomes in a bertrand edgeworth duopoly," Open Access publications from Universidad Carlos III de Madrid info:hdl:10016/6089, Universidad Carlos III de Madrid.
  6. Canoy, Marcel & Weddepohl, Claus, 1995. "Alternative conjectures in a Bertrand-Edgeworth model," European Journal of Political Economy, Elsevier, vol. 11(3), pages 577-598, September.
  7. García Díaz, Antón & Hernán González, Roberto & Kujal, Praveen, 2009. "List pricing and discounting in a Bertrand-Edgeworth duopoly," International Journal of Industrial Organization, Elsevier, vol. 27(6), pages 719-727, November.
  8. Chowdhury, Prabal Roy, 2003. "Bertrand-Edgeworth equilibrium large markets with non-manipulable residual demand," Economics Letters, Elsevier, vol. 79(3), pages 371-375, June.
  9. Chowdhury, Prabal Roy, 1999. "Bertrand-Edgeworth equilibria with unobservable output, uncoordinated consumers and large number of firms," Economics Letters, Elsevier, vol. 63(2), pages 207-211, May.
  10. Hirata, Daisuke, 2008. "Bertrand-Edgeworth Equilibrium in Oligopoly," MPRA Paper 7946, University Library of Munich, Germany.

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  1. Epsilon-equilibrium in Wikipedia (English)
  2. Ε均衡 in Wikipedia (Japanese)
  3. Bertrand–Edgeworth model in Wikipedia (English)

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