Bertrand equilibria with entry: limit results

• Autores: William Novshek, Prabal Roy Chowdhury
• Localización: International journal of industrial organization, ISSN 0167-7187, Vol. 21, Nº. 6, 2003, págs. 795-808
• Idioma: inglés
• DOI: 10.1016/s0167-7187(02)00123-6
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• Resumen

  • We study the limiting behaviour of Bertrand equilibria (where firms must supply the whole of the demand coming to them) for two different cases, first when entry is exogenous, and second when it is free. The limit equilibrium set is characterised for both cases for a large class of cost functions.