The Folk theorem and bertrand competition
We examine if the folk theorem of perfect competition holds under Bertrand competition (when firms supply all demand), both when entry is exogenous, as well as when it is free. Inter alia, we also characterize the limit equilibrium sets.
|Date of creation:||Aug 2005|
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- Xavier Vives, 2001. "Oligopoly Pricing: Old Ideas and New Tools," MIT Press Books, The MIT Press, edition 1, volume 1, number 026272040x, December.
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- Beth Allen & Martin Hellwig, 1986. "Bertrand-Edgeworth Oligopoly in Large Markets," Review of Economic Studies, Oxford University Press, vol. 53(2), pages 175-204.
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