Bertrand-Edgeworth model

proper noun

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.

Ask AI about this wordChatGPTClaudePerplexityGoogle AIGrok

Meanings

proper nounthe Bertrand-Edgeworth model
  1. economicsA 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.

Origin

Named after Joseph Bertrand and Francis Ysidro Edgeworth.

Full word history & related roots →
Cite this entry
APA

Bertrand-Edgeworth model. (n.d.). In WatkinsX Dictionary. Retrieved November 4, 2026, from https://dictionary.watkinsx.com/word/Bertrand-Edgeworth%20model

MLA

“Bertrand-Edgeworth model.” WatkinsX Dictionary, https://dictionary.watkinsx.com/word/Bertrand-Edgeworth%20model. Accessed November 4, 2026.

Chicago

WatkinsX Dictionary, s.v. “Bertrand-Edgeworth model,” accessed November 4, 2026, https://dictionary.watkinsx.com/word/Bertrand-Edgeworth%20model.

Source: Bertrand-Edgeworth model on Wiktionary, CC BY-SA 4.0.