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Timing of play change the nash equilibrium

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Reference no: EM131589181

Economics

1st Part, Consider the Bertrand game. Does the timing of play change the Nash equilibrium? In other words, does it matter if the game is played simultaneously or sequentially?

2nd Part, Consider the Cournot game. Suppose we relax the assumption that the firms are identical by assuming that one of them has a larger capacity. How does this change the outcome of the Cournot game?

Reference no: EM131589181

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