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On the Existence of Pure Strategy Bertrand Equilibrium

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Author Info
Dastidar, Krishnendu Ghosh

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Abstract

The paper analyses the existence of pure strategy Nash equilibrium in price competition (or Bertrand equilibrium) in a homogeneous product market when costs are strictly convex and proves that if output is demand determined such equilibrium always exists. This paper also characterises such equilibria and shows that if firms are identical such equilibria are necessarily non-unique. However for firms with asymmetric costs it can be unique or non-unique.

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Publisher Info
Article provided by Springer in its journal Economic Theory.

Volume (Year): 5 (1995)
Issue (Month): 1 (January)
Pages: 19-32
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Handle: RePEc:spr:joecth:v:5:y:1995:i:1:p:19-32

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  1. Steffen Hoernig, 2007. "Bertrand Games and Sharing Rules," Economic Theory, Springer, vol. 31(3), pages 573-585, June. [Downloadable!] (restricted)
  2. Ana B. Ania & Carlos Alós-Ferrer & Klaus R. Schenk-Hoppé, 1998. "- An Evolutionary Model Of Bertrand Oligopoly," Working Papers. Serie AD 1998-14, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie). [Downloadable!]
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  3. Akira Ogawa & Kazuhiko Kato, 2006. "Price Competition in a Mixed Duopoly," Economics Bulletin, Economics Bulletin, vol. 12(4), pages 1-5. [Downloadable!]
  4. Hoernig, Steffen, 2005. "Bertrand Equilibria and Sharing Rules," FEUNL Working Paper Series wp468, Universidade Nova de Lisboa, Faculdade de Economia. [Downloadable!]
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  5. Santos-Pinto, Luís, 2006. "Reciprocity, inequity-aversion, and oligopolistic competition," MPRA Paper 3143, University Library of Munich, Germany, revised 14 Apr 2007. [Downloadable!]
  6. Roy Chowdhury, Prabal, 2009. "Free Entry Bertrand Competition," MPRA Paper 17837, University Library of Munich, Germany. [Downloadable!]
  7. Zhiqi Chen & Thomas Ross, 2007. "Markets Linked by Rising Marginal Costs: Implications for Multimarket Contact, Recoupment, and Retaliatory Entry," Review of Industrial Organization, Springer, vol. 31(1), pages 1-21, August. [Downloadable!] (restricted)
  8. Prabal, Roy Chowdhury, 2008. "Bertrand Competition with Non-rigid Capacity Constraints," MPRA Paper 9172, University Library of Munich, Germany. [Downloadable!]
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  9. Weibull, Jörgen, 2006. "Price competition and convex costs," Working Paper Series in Economics and Finance 622, Stockholm School of Economics, revised 23 Feb 2006. [Downloadable!]
  10. Pio Baake & Kay Mitusch, 2004. "Competition with Congestible Networks," Discussion Papers of DIW Berlin 402, DIW Berlin, German Institute for Economic Research. [Downloadable!]
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  11. Klaus Abbink & Jordi Brandts, 2005. "Collusion in Growing and Shrinking Markets: Empirical Evidence from Experimental Duopolies," Discussion Papers 2005-03, The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham. [Downloadable!]
  12. Francisco J. André & Paula González & Nicolás Porteiro, 2007. "Strategic Quality Competition and the Porter Hypothesis," Working Papers 07.03, Universidad Pablo de Olavide, Department of Economics. [Downloadable!]
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  13. Robert R. Routledge, 2009. "On the existence of Bayesian Bertrand equilibrium," The School of Economics Discussion Paper Series 0917, Economics, The University of Manchester. [Downloadable!]
  14. Klaus Abbink & Jordi Brandts, 2005. "Collusion in Growing and Shrinking Markets: Empirical Evidence from Experimental Duopolies," UFAE and IAE Working Papers 648.05, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC). [Downloadable!]
  15. Alberto Iozzi, 2003. "Spatial Duopoly under Uniform Delivered Pricing when Firms Avoid Turning Customers Away," CEIS Research Paper 11, Tor Vergata University, CEIS. [Downloadable!]
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