The Folk theorem and bertrand competition

Prabal Roy Chowdhury ()

Indian Statistical Institute, Planning Unit, New Delhi Discussion Papers from Indian Statistical Institute, New Delhi, India

Abstract: We examine if the folk theorem of perfect competition holds under Bertrand competition (when firms supply all demand), both when entry is exogenous, as well as when it is free. Inter alia, we also characterize the limit equilibrium sets.

Keywords: Bertrand oligopoly; folk theorem; limit properties; exogenous entry; free entry (search for similar items in EconPapers)
JEL-codes: D43 D41 L13 (search for similar items in EconPapers)
Date: 2005-08
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