Electronic Resource
Springer
Economic theory
7 (1996), S. 547-555
ISSN:
1432-0479
Source:
Springer Online Journal Archives 1860-2000
Topics:
Economics
Notes:
Summary We consider price-adjusting oligopoly models involving Bertrand or adaptive expectations concerning the rivals' prices. Traditionally, one specifies these models with first order exponential adjustment lags. We introduce specific higher order exponential lags in both models, which provides a more flexible and richer dynamic specification. We show that in both cases the model with higher order lags is stable if and only if the model with first order lags is stable.
Type of Medium:
Electronic Resource
URL:
http://dx.doi.org/10.1007/BF01213667
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