Price Competition and Market COncentration: An Experimental Study

The classical price competition model (named after Bertrand) prescribes that in equilibrium prices are equal to marginal costs. Moreover, prices do not depend on the number of competitors. Since this outcome is not in line with real-life observations, it is known as the "Bertrand Paradox". Many theoretical problems with the original model have been considered as an explanation of the paradox in the literature.

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Year of publication:	1998
Authors:	Dufwenberg, M. ; Gneezy, U.
Institutions:	Nationalekonomiska Institutionen, Uppsala Universitet
Subject:	PRICES \| COMPETITION \| MARKETS

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Series:	Uppsala - Working Paper Series.
Type of publication:	Book / Working Paper
Notes:	19 pages
Classification:	D43 - Oligopoly and Other Forms of Market Imperfection
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005634570