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Bertrand Duopoly
(redirected from Bertrand competition)

    Also found in: Wikipedia 0.01 sec.
Bertrand Duopoly
One of two major models of how duopolies operate. In the Bertrand model, two companies compete with each other for the lowest possible price, resulting in perfect competition. Bertrand duopoly is applicable in many circumstances but it does not express duopolistic behavior perfectly. See also: Cournot model.
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For a given number of firms, the perceived elasticity of demand under Bertrand competition is larger than that under Cournot competition; that is, for a given N, [e.
Endogenous markups, intensity of competition, and persistence of ... by Zhang, Junxi / Southern Economic Journal
1983), "Quantity Precommitment and Bertrand Competition Yield Cournot Outcomes", Bell Journal of Economics, Vol.
Limits in the labor supply market and Cournot competition by Ohnishi, Kazuhiro / Indian Journal of Economics and Business
Specifically, we assume Bertrand competition and a demand with constant price elasticity, while Skeath and Trandel (1994) use Coumot competition and linear demand.
Market substitution and the Pareto dominance of ad valorem taxation by Saving, Thomas R. / Southern Economic Journal
 
 
 
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