论文信息 - Equilibrium prices in the Bertrand and Cournot oligopolies

Equilibrium prices in the Bertrand and Cournot oligopolies

Abstract The equilibrium prices for the Bertrand and Cournot oligopolies with product differentiation are compared. If all firms have linear demand and cost functions, and if, in addition, the Jacobian matrix of the demand functions has a dominant negative diagonal, the Cournot equilibrium prices are not lower than the Bertrand ones. The general condition for the comparison of the Bertrand and Cournot equilibrium prices can be derived even if the nonlinearity is involved in the cost and/or demand functions.

Koji Okuguchi | K. Okuguchi

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