A Psychological Reexamination of the Bertrand Paradox.
The Bertrand paradox describes a situation in which two competing firms reach an outcome where both price at marginal cost. In laboratory experiments, this equilibrium is not generally observed. Existing empirical works on Bertrand competition have found evidence for boundedly rational models. We fi...
| Publicado en: | Southern Economic Journal Vol. 80; no. 4; pp. 948 - 968 |
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| Autores principales: | , , |
| Formato: | Artículo |
| Publicado: |
Wiley-Blackwell
Apr2014
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| Materias: | |
| Acceso en línea: | Ver este registro en EBSCOhost |