We study competition in experimental markets in which two incumbents face entry by three other firms. Our treatments …

Bertrand competition under decreasing returns involves a wide interval of pure strategy equilibrium prices. We first …

We study the relation between the number of firms and price-cost margins under price competition with uncertainty about …

competition, in the sense of generating lower average transaction prices and higher consumer surplus. This result is robust to …

analysis is conducted using the spokes model of non-localized competition proposed by Chen and Riordan (2007). Firstly, we show … drastically restrict their product range in order to relax price competition, and as a result product variety is far below the …

We propose a new model of simultaneous price competition, based on firms offering personalized prices to consumers. In … marginal cost of each firm, at their share of the market clearing quantity. Using this result for the short-run competition, we … more competitive than the Cournot model competition. Moreover, as the number of firms grows we approach the competitive …