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Bertrand-Edgeworth games under oligopoly with a complete characterization for the triopoly

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  • De Francesco, Massimo A.
  • Salvadori, Neri

Abstract

The paper extends the analysis of price competition among capacity-constrained sellers beyond the cases of duopoly and symmetric oligopoly.We first provide some general results for the oligopoly and then focus on the triopoly, providing a complete characterization of the mixed strategy equilibrium of the price game. The region of the capacity space where the equilibrium is mixed is partitioned according to the features of the mixed strategy equilibrium arising in each subregion. Then computing the mixed strategy equilibrium becomes a quite simple task. The analysis reveals features of the mixed strategy equilibrium which do not arise in the duopoly

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File URL: http://mpra.ub.uni-muenchen.de/10767/
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File URL: http://mpra.ub.uni-muenchen.de/24087/
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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 10767.

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Date of creation: 11 May 2008
Date of revision: 26 Sep 2008
Handle: RePEc:pra:mprapa:10767

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Keywords: Bertrand-Edgeworth; Price game; Oligopoly; Triopoly; Mixed strategy equilibrium;

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References

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  1. Osborne, Martin J. & Pitchik, Carolyn, 1986. "Price competition in a capacity-constrained duopoly," Journal of Economic Theory, Elsevier, vol. 38(2), pages 238-260, April.
  2. Dan Kovenock & Raymond J. Deneckere, 1996. "Bertrand-Edgeworth duopoly with unit cost asymmetry (*)," Economic Theory, Springer, vol. 8(1), pages 1-25.
  3. De Francesco, Massimo A. & Salvadori, Neri, 2008. "Bertrand-Edgeworth games under oligopoly with a complete characterization for the triopoly," MPRA Paper 10767, University Library of Munich, Germany, revised 26 Sep 2008.
  4. Richard E. Levitan & Martin Shubik, 1970. "Price Duopoly and Capacity Constraints," Cowles Foundation Discussion Papers 287, Cowles Foundation for Research in Economics, Yale University.
  5. Vives, Xavier, 1986. "Rationing rules and Bertrand-Edgeworth equilibria in large markets," Economics Letters, Elsevier, vol. 21(2), pages 113-116.
  6. repec:ebl:ecbull:v:4:y:2003:i:30:p:1-8 is not listed on IDEAS
  7. Boccard, Nicolas & Wauthy, Xavier, 2000. "Bertrand competition and Cournot outcomes: further results," Economics Letters, Elsevier, vol. 68(3), pages 279-285, September.
  8. Simon Loertscher, 2005. "Market making oligopoly," Diskussionsschriften dp0512, Universitaet Bern, Departement Volkswirtschaft.
  9. Hirata, Daisuke, 2008. "Bertrand-Edgeworth Equilibrium in Oligopoly," MPRA Paper 7946, University Library of Munich, Germany.
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Citations

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Cited by:
  1. Balogh, Tamás L. & Tasnádi, Attila, 2011. "Does timing of decisions in a mixed duopoly matter?," MPRA Paper 30993, University Library of Munich, Germany.
  2. Tasnádi, Attila, 2012. "Endogenous Timing of Moves in Bertrand-Edgeworth Triopolies," MPRA Paper 47610, University Library of Munich, Germany.
  3. De Francesco, Massimo A. & Salvadori, Neri, 2008. "Bertrand-Edgeworth games under oligopoly with a complete characterization for the triopoly," MPRA Paper 10767, University Library of Munich, Germany, revised 26 Sep 2008.
  4. Kalyan Talluri & Víctor Martínez de Albéniz, 2010. "Dynamic price competition with fixed capacities," Economics Working Papers 1205, Department of Economics and Business, Universitat Pompeu Fabra.
  5. Kalyan Talluri & Víctor Martínez de Albéniz, 2010. "Dynamic Price Competition with Fixed Capacities," Working Papers 425, Barcelona Graduate School of Economics.
  6. De Francesco, Massimo A. & Salvadori, Neri, 2010. "Bertrand-Edgeworth competition in an almost symmetric oligopoly," MPRA Paper 24228, University Library of Munich, Germany.

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