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On the existence of coalition-proof Bertrand equilibrium

R. R. Routledge ()
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R. R. Routledge: University of Liverpool

Economic Theory Bulletin, 2013, vol. 1, issue 1, No 4, 31 pages

Abstract: Abstract In Baye and Morgan (Econ Theory 19:271–282, 2002) and Hoernig (Econ Theory 31:573–585, 2007), sufficient conditions for the existence of Bertrand equilibrium with arbitrary sharing rules were provided. Here, sufficient conditions for the existence of a coalition-proof Bertrand equilibrium with an arbitrary tie-breaking rule are provided. A classical Bertrand game in which sellers have convex costs is analyzed and sufficient conditions for the existence of coalition-proof Bertrand equilibrium which admit discontinuities in tied payoffs and a general class of tie-breaking rules are stated. Finally, an example is provided where one of the conditions is violated and there is non-existence of coalition-proof Bertrand equilibrium. This work generalizes an existence result of Chowdhury and Sengupta (Econ Theory 24:307–324, 2004).

Keywords: Equilibrium existence; Discontinuous payoffs; Coalition-proofness; Bertrand games (search for similar items in EconPapers)
JEL-codes: C72 D43 (search for similar items in EconPapers)
Date: 2013
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DOI: 10.1007/s40505-013-0011-7

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