STABILITY OF EQUILIBRIUM IN BERTRAND AND COURNOT DUOPOLIES

Koji Okuguchi () and Takeshi Yamazaki ()
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Koji Okuguchi: Department of Economics and Information, Gifu Shotoku Gakuen University, 1-38 Nakauzura, Gifu-shi, Gifu-ken 500-8288, Japan
Takeshi Yamazaki: Department of Economics, Niigata University, 8050 Ikarashi 2-no-cho, Niigata-shi, Niigata-ken 950-2181, Japan

International Game Theory Review (IGTR), 2004, vol. 06, issue 03, 381-390

Abstract: We analyze the global stability of the equilibria in Bertrand and Cournot duopolies. Assuming a set of sufficient conditions for the global stability of the Bertrand duopoly equilibrium, we derive additional conditions which are sufficient for the global stability of the Cournot duopoly equilibrium. We use the relationships among the first and second order partial derivatives of the ordinary and inverse demand functions in deriving our results.

Keywords: Bertrand; Cournot; stability; equilibrium (search for similar items in EconPapers)
JEL-codes: B4 C0 C6 C7 D5 D7 M2 (search for similar items in EconPapers)
Date: 2004
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Citations: View citations in EconPapers (1)

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DOI: 10.1142/S0219198904000265

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