Title of article
Mixed Bertrand equilibria under decreasing returns to scale: an embarrassment of riches
Author/Authors
Steffen H. Hoernig، نويسنده ,
Issue Information
روزنامه با شماره پیاپی سال 2002
Pages
4
From page
359
To page
362
Abstract
We show that under decreasing returns to scale there are continua of non-zero profit mixed Bertrand equilibria where firms randomise between any finite number of pure equilibrium prices. Unlike the previous literature we do not assume infinite monopoly profits
Keywords
Mixed equilibria , Bertrand oligopoly , Decreasing returns
Journal title
Economics Letters
Serial Year
2002
Journal title
Economics Letters
Record number
434886
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