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| Frederique Bracoud |
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| ''Double Bertrand competition among intermediaries when consumers can default'' |
| ( 2007, Vol. 4 No.7 ) |
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| This paper models a sequential double price competition among intermediaries when their expected revenue per sale is affected by consumers' default. If this revenue is non-monotonic with the asking price, the Walrasian outcome may not be an equilibrium and demand rationing may emerge instead. |
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| Keywords: Bertrand Competition |
JEL: D4 - Market Structure and Pricing: General
L1 - Market Structure, Firm Strategy, and Market Performance: General |
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| Manuscript Received : Nov 25 2005 | | Manuscript Accepted : Feb 21 2007 |
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