Palgrave Encyclopedia of Strategic Management, Eds. Mie Augier, David J. Teece, ISBN 978-1-137-49190-9, Palgrave Macmillan UK, 2016
1 Pages Posted: 8 Jun 2017
Date Written: 2014
When the outputs of the firms in an industry are perfect substitutes, the firms compete on price and have no capacity constraints, the resulting industrial organization is called Bertrand competition.
Keywords: Bertrand Competition, Industrial Organization, Price Competition
JEL Classification: C72, D21, D43, L11, L13
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