This study investigates the impact of cheap talk on price in a repeated Bertrand oligopoly experiment. Each participant plays 20 rounds. Participants are placed three-person bidding groups where lowest bid wins. During first 10 rounds, participants not allowed to communicate with each other. All converged zero-profit equilibrium periods. We then play another rounds can text one using an instant...

This paper compares Bertrand and Cournot equilibria in a di®erentiated duopoly with R&D (research and development) competition. Cournot competition is shown to induce more R&D e®ort than Bertrand competition. However, the price is lower and output is higher in Bertrand than in Cournot competition. Furthermore, the Bertrand equilibrium is more e±cient than the Cournot equilibrium if either R&D p...

With the advent of post-subsidy era, new energy vehicles are future development direction China’s automobile industry, Chinese government has established a number New-Energy Vehicle (NEV) market stimulus programs. As foreign car company in China, The price approach employed by Tesla turned into an important concern. This article analyzes pricing strategy NEV industry represented and then trend ...

In this research, the optimal pricing decisions for two complementary products in a two-echelon supply chain under two scenarios are studied. The proposed supply chain in each echelon includes one retailer and two manufacturers and the same complementary products are produced. In the first scenario, we assume the unit manufacturing costs of the complementary products in each echelon are the sam...

Bertrand competition is a model of competition used in economics, named after Joseph Louis François Bertrand (1822-1900). Specifically, it is a model of price competition between duopoly firms which results in each charging the price that would be charged under perfect competition, known as marginal cost pricing. The model has the following assumptions: There are at least two firms producing ho...

This paper compares Bertrand and Cournot equilibria in a differentiated duopoly with R6D (research and development) competition. It shows that Cournot competition induces more R6D effort than Bertrand competition. However, the price is lower and output is larger in Bertrand than in Cournot competition. Furthermore, the Bertrand equilibrium is more efficient than the Cournot equilibrium if eithe...

This paper considers tripartite games in a dual-channel supply chain which involves manufacturer, an offline retailer and online retailer. Both competition cooperation issues are analyzed. In the model, Stackelberg game between manufacturer two retailers Bertrand occur simultaneously. It is shown that channel attracts more consumers’ purchase preference charged higher wholesale price it meanwhi...

This paper reports the study of properties of the curve pairs of the Bertrand types using our automated reasoning program based on Wu’s method of mechanical theorem proving for differential geometry. A complete list of results about Bertrand curves in metric and affine spaces is derived mechanically. The list includes most of the known results of various Bertrand curves. We also derive some new...