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Dynamic properties of a Cournot–Bertrand duopoly game with differentiated products

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  • Naimzada, A.K.
  • Tramontana, F.

Abstract

In this paper we consider a Cournot–Bertrand duopoly model with linear demand and cost functions and with product differentiation. We propose a dynamic framework for the study of the stability properties of this kind of mixed oligopoly game, a rather neglected topic in the existing literature despite its relevance. In particular, in this paper we highlight the role of best response dynamics and of an adaptive adjustment mechanism for the stability of the equilibrium.

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Bibliographic Info

Article provided by Elsevier in its journal Economic Modelling.

Volume (Year): 29 (2012)
Issue (Month): 4 ()
Pages: 1436-1439

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Handle: RePEc:eee:ecmode:v:29:y:2012:i:4:p:1436-1439

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Web page: http://www.elsevier.com/locate/inca/30411

Related research

Keywords: Cournot–Bertrand model; Product differentiation; Stability; Dynamics; Oligopoly theory;

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References

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  1. Arya, Anil & Mittendorf, Brian & Sappington, David E.M., 2008. "Outsourcing, vertical integration, and price vs. quantity competition," International Journal of Industrial Organization, Elsevier, vol. 26(1), pages 1-16, January.
  2. Tremblay, Carol Horton & Tremblay, Victor J., 2011. "The Cournot-Bertrand model and the degree of product differentiation," Economics Letters, Elsevier, vol. 111(3), pages 233-235, June.
  3. Piercarlo Zanchettin, 2006. "Differentiated Duopoly with Asymmetric Costs," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 15(4), pages 999-1015, December.
  4. Häckner, Jonas, 1999. "A Note on Price and Quantity Competition in Differentiated Oligopolies," Research Papers in Economics 1999:9, Stockholm University, Department of Economics.
  5. Nirvikar Singh & Xavier Vives, 1984. "Price and Quantity Competition in a Differentiated Duopoly," RAND Journal of Economics, The RAND Corporation, vol. 15(4), pages 546-554, Winter.
  6. Okuguchi, Koji, 1970. "Adaptive Expectations in an Oligopoly Model," Review of Economic Studies, Wiley Blackwell, vol. 37(2), pages 233-37, April.
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Cited by:
  1. Bing Han & Hayley Chouinard, 2013. "Product Quality, Advertising Intensity and Market Size," Working Papers 2013-12, School of Economic Sciences, Washington State University.

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