Self-Enforcing Price Leadership
A dynamic Bertrand-duopoly model where price leadership emerges in equilibrium is developed. In the price leadership equilibrium, a firm leads price changes and its competitor always matches in the next period. The firms produce a homogeneous product and are identical except for the information they...
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| Format: | Article |
| Language: | English |
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MDPI AG
2021-07-01
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| Series: | Games |
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| Online Access: | https://www.mdpi.com/2073-4336/12/3/59 |