The story
Named after Joseph Bertrand and Francis Ysidro Edgeworth.
Etymology from Wiktionary, CC BY-SA 4.0.
Bertrand-Edgeworth model
Today it means: A microeconomic model of price-setting oligopoly, dealing with the situation of a homogeneous product (i.e. consumers want to buy from the cheapest seller) and a limit to the output of firms which are willing and able to sell at a particular price. Full definition →