haku: @author Börgers, T. / yhteensä: 2
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| Tekijä: | Börgers, T. |
| Otsikko: | Iterated elimination of dominated strategies in a Bertrand-Edgeworth model. |
| Lehti: | Review of Economic Studies
1992 : JAN, VOL. 59:198, p. 163-176 |
| Asiasana: | PRICES COMPETITION GAMES MODELS |
| Kieli: | eng |
| Tiivistelmä: | A Bertrand-Edgeworth model of price competition is considered. Firms have identical and constant marginal costs and finite exogenous capacities. Firms choose prices. The interest is in the set of those prices which are left over after the iterated elimination of dominated strategies. It is shown that in two circumstances this set will be close to the set containing only the market-clearing (Walrasian) price: (1) if any n-1 out of n firms assumed to be in the market have sufficient capacity to cover demand at marginal costs; (2) if any given total capacity is owned by a very large number of very small firms. |
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