Bertrand equilibrium with subadditive costs
AbstractWe show here, in contrast to recent results, that if firms have different cost functions (that are strictly subadditive), such that the 'monopoly breakeven prices' are different, then in a homogeneous product duopoly there is always a Bertrand equilibrium (either in pure strategies or in mixed strategies).
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Bibliographic InfoArticle provided by Elsevier in its journal Economics Letters.
Volume (Year): 112 (2011)
Issue (Month): 2 (August)
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Web page: http://www.elsevier.com/locate/ecolet
Bertrand equilibrium Subadditive costs Existence;
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- Blume, Andreas, 2003. "Bertrand without fudge," Economics Letters, Elsevier, vol. 78(2), pages 167-168, February.
- Steffen Hoernig, 2007. "Bertrand Games and Sharing Rules," Economic Theory, Springer, vol. 31(3), pages 573-585, June.
- repec:hal:cesptp:hal-00709093 is not listed on IDEAS
- Marie-Laure Cabon-Dhersin & Nicolas Drouhin, 2012. "Tacit collusion in a one-shot game of price competition with soft capacity constraints," Working Papers hal-00709093, HAL.
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