Dynamic Bertrand and Cournot competition: Asymptotic and computational analysis of product differentiation

Abstract

We study continuous time oligopolies in which a small number of firms producing similar goods compete with one another by setting prices or quantities. We study a deterministic version of the problem using an asymptotic expansion of the relevant HJB partial differential equations. We find in this setting that for firms with highly differentiated goods, the… (More)
DOI: 10.3233/RDA-2011-0057

13 Figures and Tables

Topics

  • Presentations referencing similar topics