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Bertrand competition with asymmetric costs: a solution in pure strategies

Author

Listed:
  • Thomas Demuynck
  • Jean-Jacques Herings
  • Riccardo Saulle
  • Christian Seel

Abstract

We consider a Bertrand duopoly with homogeneous goods and we allow for asymmetric marginal costs. We derive the Myopic Stable Set in pure strategies as introduced by Demuynck et al. (Econometrica 87:111–138, 2019). In contrast to the set of Nash equilibria, the unique Myopic Stable Set can be easily characterized in closed form and it provides an intuitive set-valued prediction.

Suggested Citation

  • Thomas Demuynck & Jean-Jacques Herings & Riccardo Saulle & Christian Seel, 2019. "Bertrand competition with asymmetric costs: a solution in pure strategies," ULB Institutional Repository 2013/287284, ULB -- Universite Libre de Bruxelles.
  • Handle: RePEc:ulb:ulbeco:2013/287284
    Note: SCOPUS: ar.j
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    as
    1. Thomas Demuynck & P. Jean‐Jacques Herings & Riccardo D. Saulle & Christian Seel, 2019. "The Myopic Stable Set for Social Environments," Econometrica, Econometric Society, vol. 87(1), pages 111-138, January.
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    More about this item

    Keywords

    Asymmetric costs; Bertrand competition; Myopic stable set;

    JEL classification:

    • C70 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - General
    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • D43 - Microeconomics - - Market Structure, Pricing, and Design - - - Oligopoly and Other Forms of Market Imperfection

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