The Dynamics of Bertrand Price Competition with Cost-Reducing Investments
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- Fedor Iskhakov & John Rust & Bertel Schjerning, 2016.
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More about this item
Keywordsduopoly; Bertrand-Nash price competition; Bertrand paradox; Bertrand investment paradox; leapfrogging; cost-reducing investments; technological improvement; dynamic models of competition; Markov-perfect equilibrium; tacit collusion; price wars; coordination and anti-coordination games; strategic preemption;
- D92 - Microeconomics - - Micro-Based Behavioral Economics - - - Intertemporal Firm Choice, Investment, Capacity, and Financing
- L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
- L13 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Oligopoly and Other Imperfect Markets
NEP fieldsThis paper has been announced in the following NEP Reports:
- NEP-ALL-2013-06-24 (All new papers)
- NEP-COM-2013-06-24 (Industrial Competition)
- NEP-IND-2013-06-24 (Industrial Organization)
- NEP-MIC-2013-06-24 (Microeconomics)
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