Theocharis Problem Reconsidered in Differentiated Oligopoly

<table class="table-group" width="800px"><tr class="fig-image" id="a"><td><img alt="630351.fig.002a" src="https://static.hindawi.com/articles/ecri/volume-2014/630351/figures/630351.fig.002a.jpg"/></td></tr><tr class="fig-caption"><td align="center"><table><tr><td><b>(a) </b>Complements: <svg height="12.1392pt" id="M352" style="vertical-align:-3.5361pt" version="1.1" viewbox="0 -8.6031 28.8169 12.1392" width="28.8169pt" xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink"><g transform="matrix(.0135,0,0,-0.0135,0,0)"><path d="M478 372C478 418 458 448 431 448C409 448 389 431 389 410C389 404 391 400 394 395C398 388 406 371 406 348C406 253 308 122 251 51H249C254 122 249 257 231 336C212 421 189 448 159 448C126 448 75 412 23 327L48 306C83 354 103 371 115 371C125 371 134 360 144 334C185 224 192 64 183 -19C146 -100 116 -202 110 -244L125 -261C154 -259 208 -234 222 -220C222 -194 225 -84 235 -23C247 -3 273 36 308 79C379 165 478 288 478 372Z" id="g113-225"></path><glyph.data ascent="3473" descent="-2876" horiz-adv-x="501" vert-adv-y="501"></glyph.data></g><g transform="matrix(.0135,0,0,-0.0135,10.576,0)"><path d="M512 -3V55L134 254V256L512 456V514L75 281V230L512 -3Z" id="g117-91"></path><glyph.data ascent="3473" descent="-2876" horiz-adv-x="587" vert-adv-y="587"></glyph.data></g><g transform="matrix(.0135,0,0,-0.0135,22.314,0)"><path d="M241 635C89 635 35 457 35 312C35 153 89 -12 240 -12C390 -12 443 166 443 312C443 466 390 635 241 635ZM238 602C329 602 354 454 354 312C354 172 330 22 240 22C152 22 124 173 124 313S148 602 238 602Z" id="g113-49"></path><glyph.data ascent="3473" descent="-2876" horiz-adv-x="480" vert-adv-y="480"></glyph.data></g></svg></td></tr></table></td></tr><tr class="fig-image" id="b"><td><img alt="630351.fig.002b" src="https://static.hindawi.com/articles/ecri/volume-2014/630351/figures/630351.fig.002b.jpg"/></td></tr><tr class="fig-caption"><td align="center"><table><tr><td><b>(b) </b>Substitutes: <svg height="12.1392pt" id="M353" style="vertical-align:-3.5361pt" version="1.1" viewbox="0 -8.6031 28.8169 12.1392" width="28.8169pt" xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink"><g transform="matrix(.0135,0,0,-0.0135,0,0)"><path d="M478 372C478 418 458 448 431 448C409 448 389 431 389 410C389 404 391 400 394 395C398 388 406 371 406 348C406 253 308 122 251 51H249C254 122 249 257 231 336C212 421 189 448 159 448C126 448 75 412 23 327L48 306C83 354 103 371 115 371C125 371 134 360 144 334C185 224 192 64 183 -19C146 -100 116 -202 110 -244L125 -261C154 -259 208 -234 222 -220C222 -194 225 -84 235 -23C247 -3 273 36 308 79C379 165 478 288 478 372Z" id="g113-225"></path><glyph.data ascent="3473" descent="-2876" horiz-adv-x="501" vert-adv-y="501"></glyph.data></g><g transform="matrix(.0135,0,0,-0.0135,10.576,0)"><path d="M512 230V281L75 514V456L453 256V254L75 55V-3L512 230Z" id="g117-92"></path><glyph.data ascent="3473" descent="-2876" horiz-adv-x="587" vert-adv-y="587"></glyph.data></g><g transform="matrix(.0135,0,0,-0.0135,22.314,0)"><path d="M241 635C89 635 35 457 35 312C35 153 89 -12 240 -12C390 -12 443 166 443 312C443 466 390 635 241 635ZM238 602C329 602 354 454 354 312C354 172 330 22 240 22C152 22 124 173 124 313S148 602 238 602Z" id="g113-49"></path><glyph.data ascent="3473" descent="-2876" horiz-adv-x="480" vert-adv-y="480"></glyph.data></g></svg></td></tr></table></td></tr></table>

<table>Bertrand competition: stability and nonnegativity region.</table>

Economics Research International

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Figure 2

Figure 2: Theocharis Problem Reconsidered in Differentiated Oligopoly 