Bertrand oligopoly revisited
2001 (English)In: Discrete dynamics in nature and society, ISSN 1026-0226, ISSN 1026-0226, Vol. 6, no 1, 1-10 p.Article in journal (Refereed) Published
This paper reconsiders Bertrand duopoly and oligopoly in the spatial formulation due to Hotelling, 1929. The equilibrium configurations of price and location structure are considered, given elastic demand, and a full dynamics is formulated in order to check for stability of equilibrium and the possibilities of complex dynamics, such as occurs easily with Cournot oligopoly. The main discussion concerns Hotelling's original case of two sellers on a given interval, though results for different cases, such as three firms on a circle, and lattices in 2D are indicated.
Place, publisher, year, edition, pages
2001. Vol. 6, no 1, 1-10 p.
Bertrand duopoly oligopoly Hotelling Cournot
Research subject Economics
IdentifiersURN: urn:nbn:se:umu:diva-24516DOI: 10.1155/S1026022601000012OAI: oai:DiVA.org:umu-24516DiVA: diva2:226616