Abstract
We consider Bertrand oligopoly TU-games with differentiated products. We assume that the demand system is Shubik’s and that firms operate at a constant and identical marginal and average cost. Our main results state that Bertrand oligopoly TU-games in $$\alpha $$, $$\beta $$ and $$\gamma $$-characteristic function form satisfy the convexity property, meaning that there exist strong incentives for large-scale cooperation between firms on prices.
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