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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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Citations

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Cited by:
  1. Prabal Roy Chowdhury, 2004. "Bertrand-Edgeworth equilibrium with a large number of firms," Indian Statistical Institute, Planning Unit, New Delhi Discussion Papers 04-12, Indian Statistical Institute, New Delhi, India.
  2. Raymond Deneckere & Dan Kovenock, 1988. "Price Leadership," Discussion Papers 773, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  3. Tasnádi, Attila, 2001. "A Bertrand-Edgeworth-oligopóliumok. Irodalmi áttekintés
    [Bertrand-Edgeworth oligopolies - a survey of the literature]
    ," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(12), pages 1081-1092.
  4. Chowdhury, Prabal Roy, 2003. "Bertrand-Edgeworth equilibrium large markets with non-manipulable residual demand," Economics Letters, Elsevier, vol. 79(3), pages 371-375, June.
  5. Hirata, Daisuke, 2008. "Bertrand-Edgeworth Equilibrium in Oligopoly," MPRA Paper 7946, University Library of Munich, Germany.
  6. Antón García Díaz & Praveen Kujal, 2003. "List Pricing And Pure Strategy Outcomes In A Bertrand-Edgeworth Duopoly," Economics Working Papers we034918, Universidad Carlos III, Departamento de Economía.
  7. Novshek, William & Chowdhury, Prabal Roy, 2003. "Bertrand equilibria with entry: limit results," International Journal of Industrial Organization, Elsevier, vol. 21(6), pages 795-808, June.
  8. 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.
  9. 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.
  10. Marcel Canoy & S. Onderstal, 2003. "Tight oligopolies: in search of proportionate remedies," CPB Document 29, CPB Netherlands Bureau for Economic Policy Analysis.
  11. Buechel, Berno & Klein, Jan, 2014. "Do Consumers' Preferences Really Matter? - A Note on Spatial Competition with Restricted Strategies," MPRA Paper 55288, University Library of Munich, Germany.
  12. 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.
  13. Roberts Waddle, 2005. "Strategic Profit Sharing Between Firms: The Bertrand Model," Economics Working Papers we050902, Universidad Carlos III, Departamento de Economía.

Lists

This item is featured on the following reading lists or Wikipedia pages:
  1. Bertrand–Edgeworth model in Wikipedia (English)
  2. Ε均衡 in Wikipedia (Japanese)
  3. Epsilon-equilibrium in Wikipedia (English)

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