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Coalition-proof Bertrand equilibria

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  • Prabal Chowdhury

    ()

  • Kunal Sengupta

    ()

Abstract

This paper examines the coalition-proof Nash equilibria of a Bertrand model of price competition where firms supply all demand. When firms are asymmetric we prove existence and provide a sufficient condition for uniqueness. For symmetric firms, we show that an equilibrium is necessarily unique. We also examine whether this unique equilibrium outcome is implementable through a sequential move game where the firms take turns at announcing prices. Finally we examine the limiting property of such equilibria as the number of firms go to infinity. Copyright Springer-Verlag Berlin/Heidelberg 2004

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File URL: http://hdl.handle.net/10.1007/s00199-003-0420-1
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Bibliographic Info

Article provided by Springer in its journal Economic Theory.

Volume (Year): 24 (2004)
Issue (Month): 2 (August)
Pages: 307-324

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Handle: RePEc:spr:joecth:v:24:y:2004:i:2:p:307-324

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Related research

Keywords: Bertrand oligopoly; Coalition-proof Nash equilibrium; Implementation; Folk theorem;

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Cited by:
  1. Prabal, Roy Chowdhury, 2008. "Bertrand Competition with Non-rigid Capacity Constraints," MPRA Paper 9172, University Library of Munich, Germany.
  2. Marie-Laure Cabon-Dhersin & Nicolas Drouhin, 2010. "The end of the Bertrand Paradox ?," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00542486, HAL.
  3. Andersson, Ola & Argenton, Cédric & Weibull, Jörgen, 2010. "Robustness to strategic uncertainty in price competition," Working Paper Series in Economics and Finance 0726, Stockholm School of Economics, revised 08 Apr 2010.
  4. Juan Delgado, 2006. "Coalition-proof supply function equilibria under capacity constraints," Economic Theory, Springer, vol. 29(1), pages 219-229, September.
  5. Roy Chowdhury, Prabal, 2009. "Mixed Duopoly with Price Competition," MPRA Paper 9220, University Library of Munich, Germany.
  6. Chia-Hung Sun & Fu-Chuan Lai, 2013. "Hotelling was right with decreasing returns to scale and a coalition-proof refinement," The Annals of Regional Science, Springer, vol. 50(3), pages 953-971, June.
  7. Roy Chowdhury, Prabal, 2009. "Free Entry Bertrand Competition," MPRA Paper 17837, University Library of Munich, Germany.

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