Limit properties of Bertrand equilibria with exogenous entry

For a large class of demand and cost functions, we characterize the limit equilibrium set under Bertrand oligopoly when entry is exogenous. Unless average cost is constant, we find that the folk theorem of perfect competition necessarily fails. We also relate our results to those in Novshek and Roy Chowdhury (2003).

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Year of publication:	2004-04
Authors:	Chowdhury, Prabal Roy
Institutions:	Indian Statistical Institute
Subject:	Bertrand oligopoly \| limit properties \| exogenous entry \| folk theorem

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Extent:	application/pdf
Series:	Indian Statistical Institute, Planning Unit, New Delhi Discussion Papers.
Type of publication:	Book / Working Paper
Language:	English
Notes:	12 pages
Classification:	D43 - Oligopoly and Other Forms of Market Imperfection ; D41 - Perfect Competition ; L13 - Oligopoly and Other Imperfect Markets
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10004979296