Limit properties of Bertrand equilibria with exogenous entry

Prabal Roy Chowdhury ()
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Prabal Roy Chowdhury: Indian Statistical Institute, New Delhi

Discussion Papers from Indian Statistical Institute, Delhi

Abstract: For a large class of demand and cost functions, we characterize the limit equilibrium set under Bertrand oligopoly when entry is exogenous. Unless average cost is constant, we find that the folk theorem of perfect competition necessarily fails. We also relate our results to those in Novshek and Roy Chowdhury (2003).

Keywords: Bertrand oligopoly; limit properties; exogenous entry; folk theorem (search for similar items in EconPapers)
JEL-codes: D41 D43 L13 (search for similar items in EconPapers)
Pages: 12 pages
Date: 2004-04
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