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The Equivalence Of Bertrand Equilibrium In A Differentiated Duopoly And Cournot Equilibrium In A Differentiated Oligopoly

Author

Listed:
  • DongJoon LEE

    (Nagoya University of Commerce and Business, Japan,)

  • Sangheon HAN

    (Nagoya University of Commerce and Business, Japan)

  • Yuji ONO

    (Nagoya University of Commerce and Business, Japan)

  • Joonghwa OH

    (Nagoya University of Commerce and Business, Japan)

Abstract

This paper examines whether Bertrand equilibrium in a differentiated duopoly can be duplicated with Cournot competition or not. We show that the degree of product differentiation plays an important role in the duality between those equilibria. Our main claims are two. One is that there exists a unique duality condition that satisfies the equivalence between Bertrand and Cournot equilibrium irrespectively of market structures. The other is that the number of firms of Cournot competition that satisfies Bertrand equilibrium increases with the degree of product differentiation.

Suggested Citation

  • DongJoon LEE & Sangheon HAN & Yuji ONO & Joonghwa OH, 2016. "The Equivalence Of Bertrand Equilibrium In A Differentiated Duopoly And Cournot Equilibrium In A Differentiated Oligopoly," Theoretical and Practical Research in the Economic Fields, ASERS Publishing, vol. 7(2), pages 146-154.
    • Handle: RePEc:srs:jtpref:v:7:y:2016:i:2:p:146-154
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