A price competition game under free entry

被引：8
|
作者：
Yano, Makoto [1 ]
机构：
[1] Keio Univ, Fac Econ, Minato Ku, Tokyo 1088345, Japan
来源：
ECONOMIC THEORY | 2006年 / 29卷 / 02期
关键词：
Bertrand price competition; free entry; competitive outcome;
D O I：
10.1007/s00199-005-0028-8
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This study builds a game of Bertrand-like price competition in a market with free entry. Under the assumption of a standard U-shaped average cost curve, it demonstrates that even if the number of sellers is small, a long-run competitive outcome can be supported as a Nash equilibrium. This game provides unifying treatments to the standard Bertrand equilibrium, the long-run competitive outcome, Demsetz's equilibrium as well as other types of equilibria that have not been known in the existing literature.
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页码：395 / 414
页数：20
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