Bertrand equilibrium with subadditive costs
Krishnendu Dastidar ()
Economics Letters, 2011, vol. 112, issue 2, 202-204
We show here, in contrast to recent results, that if firms have different cost functions (that are strictly subadditive), such that the 'monopoly breakeven prices' are different, then in a homogeneous product duopoly there is always a Bertrand equilibrium (either in pure strategies or in mixed strategies).
Keywords: Bertrand; equilibrium; Subadditive; costs; Existence (search for similar items in EconPapers)
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