Number of Sellers and Quantal Response Equilibrium Prices

This paper studies the effects of increasing the number of sellers on Quantal Response Equilibrium (QRE) prices in homogeneous product Bertrand oligopoly markets. We show that the two most commonly used choice functions (power and logistic) lead to qualitatively different comparative-static predictions with respect to the relationship between number of firms and prices.

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Year of publication:	2013-10
Authors:	Bayer, Ralph-C ; Wu, Hang
Institutions:	School of Economics, University of Adelaide
Subject:	Bertrand Oligopoly \| Quantal Response Equilibrium \| Comparative Statics

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Extent:	application/pdf
Series:	School of Economics Working Papers.
Type of publication:	Book / Working Paper
Notes:	Number 2013-15 13 pages .
Classification:	C73 - Stochastic and Dynamic Games ; D83 - Search, Learning, Information and Knowledge ; L13 - Oligopoly and Other Imperfect Markets
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011186667