Economics Dictionary of ArgumentsHome
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| Bertrand Competition - Economics Dictionary of Arguments | |||
| Bertrand Competition: Bertrand Competition is a market model where firms compete by setting prices rather than quantities. Assuming identical products and constant marginal costs, firms undercut each other until prices reach marginal cost, leading to zero economic profit. It illustrates how price competition in oligopolies can mimic perfect competition. See also Competition, Cournot competition._____________Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments. | |||
| Author | Item | More concepts for author | |
|---|---|---|---|
| Norman, Victor D. | Bertrand Competition | Norman, Victor D. | |
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Authors A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Concepts A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Ed. Martin Schulz, access date 2026-03-17 | |||
