Kreps And Scheinkman With Product Differentiation: An Expository Note

Stephen Martin ()

No 1999-11, CIE Discussion Papers from University of Copenhagen. Department of Economics. Centre for Industrial Economics

Abstract: Kreps and Scheinkman´s (1983) celebrated result is that in a two-stage model of a market with homogeneous products in which firms noncooperatively pick capacities in the first stage and set prices in the second stage, the equilibrium outcome is that of a one-shot Cournot game. This note derives capacity reaction functions for the first stage and extends the Kreps and Scheinkman result to the case of differentiated products.

Keywords: Cournot model, Bertrand model; Kreps and Scheinkman model; product differentiation (search for similar items in EconPapers)
JEL-codes: D43 L13 (search for similar items in EconPapers)
Pages: 76 pages
Date: 1999-09
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Citations: View citations in EconPapers (4)

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