Bertrand model of price competition

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• Bertrand competition — is a model of competition used in economics, named after Joseph Louis François Bertrand (1822 1900). Specifically, it is a model of price competition between duopoly firms which results in each charging the price that would be charged under… …   Wikipedia

• Bertrand paradox (economics) — For other paradoxes by Joseph Bertrand, see Bertrand s paradoxIn economics and commerce, the Bertrand paradox ndash; named after its creator, Joseph Bertrand ndash;describes a situation in which two players (firms) reach a state of Nash… …   Wikipedia

• Cournot competition — is an economic model used to describe an industry structure in which companies compete on the amount of output they will produce, which they decide on independently of each other and at the same time. It is named after Antoine Augustin Cournot[1] …   Wikipedia

• Perfect competition — Economics …   Wikipedia

• Differentiated Bertrand competition — As a solution to the Bertrand paradox in economics, it has been suggested that each firm produces a somewhat differentiated product, and consequently faces a demand curve that is downward sloping for all levels of the firm s price. An increase in …   Wikipedia

• Stackelberg competition — The Stackelberg leadership model is a strategic game in economics in which the leader firm moves first and then the follower firms move sequentially. It is named after the German economist Heinrich Freiherr von Stackelberg who published Market… …   Wikipedia

• Joseph Louis François Bertrand — (March 11, 1822 – April 5, 1900, born and died in Paris) was a French mathematician who worked in the fields of number theory, differential geometry, probability theory, and thermodynamics.Bertrand was a professor at the École Polytechnique and… …   Wikipedia

• Oligopoly — An oligopoly is a market form in which a market or industry is dominated by a small number of sellers (oligopolists). The word is derived, by analogy with monopoly , from the Greek ὀλίγοι (oligoi) few + πόλειν (pólein) to sell . Because there are …   Wikipedia

• Monopoly — This article is about the economic term. For the board game, see Monopoly (game). For other uses, see Monopoly (disambiguation). Competition law Basic concepts …   Wikipedia

• Francis Ysidro Edgeworth — (8 February 1845 ndash; 13 February 1926) made significant contributions to the methods of statistics during the 1880s. From 1891 onward he was the editor of a leading academic journal in economics and his own writings in economics were… …   Wikipedia

• France — /frans, frahns/; Fr. /frddahonns/, n. 1. Anatole /ann nann tawl /, (Jacques Anatole Thibault), 1844 1924, French novelist and essayist: Nobel prize 1921. 2. a republic in W Europe. 58,470,421; 212,736 sq. mi. (550,985 sq. km). Cap.: Paris. 3.… …   Universalium