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Bertrand Duopoly
(redirected from Bertrand model)

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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.
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In a Bertrand model, firms set prices, let the market set the quantities, and again ignore responses.
Job half-finished by Gordon, Richard L. / Regulation
Introduction Both Cournot and Bertrand models are very important in studies of oligopolistic competition, and they have been analyzed in various ways by many researchers all over the world.
Limits in the labor supply market and Cournot competition by Ohnishi, Kazuhiro / Indian Journal of Economics and Business
This suggests that a modified form of kinked demand curve model may be more appropriate for modeling small business than typical Bertrand models, since Bertrand conjectures are symmetric with respect to increases or decreases in price.
Small Business Enterprise: An Economic Analysis by Goering, Gregory E. / Southern Economic Journal
 
 
 
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