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| Author: | Mizuno, T. |
| Title: | On the existence of a unique price equilibrium for models of product differentiation |
| Journal: | International Journal of Industrial Organization
2003 : JUN, VOL. 21:6, p. 761-793 |
| Index terms: | Equilibrium analysis Consumer choice |
| Freeterms: | Bertrand equilibrium |
| Language: | eng |
| Abstract: | The authors prove the existence of a unique price equilibrium for models of product differentiation, These models are characterized bu demand functions that depend of differences in prices and have log-increasing differences in own price and other prices, which implies that best response correspondences are increasing. Many duscrete choice models satisfy these conditions, including logit models and nested logit models, and the existence theorem can be applied directly. |
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