Bertrand Price Undercutting: A Brief Classroom Demonstration
I present a brief classroom demonstration illustrating Bertrand price undercutting. The classroom demonstration is appropriate for Micro Principles, and both intermediate and upper level undergraduate, as well as graduate classes in micro, Industrial Organization, and Game Theory.
|Date of creation:||Feb 2002|
|Date of revision:|
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- Reinhard Selten, 1973. "A Simple Model of Imperfect Competition, where 4 are Few and 6 are Many," Center for Mathematical Economics Working Papers 008, Center for Mathematical Economics, Bielefeld University.
- Charles A. Holt & Monica Capra, 2000.
"Classroom Games: A Prisoner's Dilemma,"
The Journal of Economic Education,
Taylor & Francis Journals, vol. 31(3), pages 229-236, September.
- Brauer, Jurgen & Delemeester, Greg, 2001. " Games Economists Play: A Survey of Non-computerized Classroom-Games for College Economics," Journal of Economic Surveys, Wiley Blackwell, vol. 15(2), pages 221-36, April.
- Nagel, Rosemarie, 1995. "Unraveling in Guessing Games: An Experimental Study," American Economic Review, American Economic Association, vol. 85(5), pages 1313-26, December.
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