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Stability Of Equilibrium In Bertrand And Cournot Duopolies

Author

Listed:
  • KOJI OKUGUCHI

    (Department of Economics and Information, Gifu Shotoku Gakuen University, 1-38 Nakauzura, Gifu-shi, Gifu-ken 500-8288, Japan)

  • TAKESHI YAMAZAKI

    (Department of Economics, Niigata University, 8050 Ikarashi 2-no-cho, Niigata-shi, Niigata-ken 950-2181, Japan)

Abstract

We analyze the global stability of the equilibria in Bertrand and Cournot duopolies. Assuming a set of sufficient conditions for the global stability of the Bertrand duopoly equilibrium, we derive additional conditions which are sufficient for the global stability of the Cournot duopoly equilibrium. We use the relationships among the first and second order partial derivatives of the ordinary and inverse demand functions in deriving our results.

Suggested Citation

  • Koji Okuguchi & Takeshi Yamazaki, 2004. "Stability Of Equilibrium In Bertrand And Cournot Duopolies," International Game Theory Review (IGTR), World Scientific Publishing Co. Pte. Ltd., vol. 6(03), pages 381-390.
    • Handle: RePEc:wsi:igtrxx:v:06:y:2004:i:03:n:s0219198904000265
    DOI: 10.1142/S0219198904000265
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    Cited by:

    1. Koji Okuguchi & Takeshi Yamazaki, 2018. "Existence of Unique Equilibrium in Cournot Mixed Oligopoly," International Game Theory Review (IGTR), World Scientific Publishing Co. Pte. Ltd., vol. 20(03), pages 1-13, September.

    More about this item

    Keywords

    Bertrand; Cournot; stability; equilibrium;
    All these keywords.

    JEL classification:

    • B4 - Schools of Economic Thought and Methodology - - Economic Methodology
    • C0 - Mathematical and Quantitative Methods - - General
    • C6 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling
    • C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
    • D5 - Microeconomics - - General Equilibrium and Disequilibrium
    • D7 - Microeconomics - - Analysis of Collective Decision-Making
    • M2 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics

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