Bertrand duopoly


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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.

Bertrand duopoly

see DUOPOLY.
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11:30 A NEW BERTRAND DUOPOLY GAME AND ITS DYNAMICAL BEHAVIORS
Due to the effectiveness of the e-learning techniques used in teaching of Bertrand duopoly, this section briefly introduces the methods used in the classroom.
The Bertrand duopoly price competition model is effective at determining customer's willingness-to-pay and level of internet usage patterns in relation to price paid for service.