BERTRAND GAME
\bˈɜːtɹand ɡˈe͡ɪm], \bˈɜːtɹand ɡˈeɪm], \b_ˈɜː_t_ɹ_a_n_d ɡ_ˈeɪ_m]\
Sort: Oldest first
-
When two suppliers compete. They choose their own selling price and than meet demand. The cheaper of the two will probably have more customers. Sometimes the demand is split in half. They can now start a price war and get zero profit, split high profits,
By Henry Campbell Black
