Perpetual leapfrogging in Bertrand duopoly

被引：12
|
作者：
Giovannetti, E [1 ]
机构：
[1] Univ Cambridge, Cambridge CB2 1TN, England
[2] Univ Roma La Sapienza, Rome, Italy
来源：
INTERNATIONAL ECONOMIC REVIEW | 2001年 / 42卷 / 03期
关键词：
D O I：
10.1111/1468-2354.00129
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
We consider different patterns of infinite technological adoption choices by firms in a Bertrand duopoly. Every period technological progress provides a sequence of cost reducing innovations. The equilibrium concept is Markov perfect equilibrium. We analyze conditions for which equilibrium adoption leads to persistent leadership and those where firms alternate in adoption inducing leapfrogging. Only leapfrogging leads to technological improvement in the long run. Demand conditions play a crucial role in determining whether leapfrogging can be perpetual in Bertrand duopoly.
引用
收藏
页码：671 / 696
页数：26
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