Bertrand games and sharing rules

We consider asymmetric Bertrand games with arbitrary payoffs at ties or sharing rules, and identify sufficient conditions for the zero-profit outcome and the existence of Nash equilibria. Subject to some technical conditions on non-tied payoffs the following hold. If the sharing rule is strictly tie...

Ausführliche Beschreibung

Gespeichert in:
Bibliographische Detailangaben
Veröffentlicht in:Economic theory 2007-06, Vol.31 (3), p.573-585
1. Verfasser: Hoernig, Steffen H.
Format: Artikel
Sprache:eng
Schlagworte:
Online-Zugang:Volltext
Tags: Tag hinzufügen
Keine Tags, Fügen Sie den ersten Tag hinzu!
Beschreibung
Zusammenfassung:We consider asymmetric Bertrand games with arbitrary payoffs at ties or sharing rules, and identify sufficient conditions for the zero-profit outcome and the existence of Nash equilibria. Subject to some technical conditions on non-tied payoffs the following hold. If the sharing rule is strictly tie-decreasing all players but one receive zero equilibrium payoffs, while everybody does so if non-tied payoffs are symmetric. Mixed (pure) strategy Nash equilibria exist if the sharing rule is (norm) tie-decreasing and coalition-monotone.
ISSN:0938-2259
1432-0479
DOI:10.1007/s00199-006-0112-8