It's commonly viewed as the only equilibrium outcome that each firm earns zero profit in the homogeneous product Bertrand game with constant marginal cost.
The Bertrand-Stackelberg equilibrium profit, which is not stable in the multi-round model, will eventually come close to Bertrand-Nash equilibrium profit.
但在多轮博弈的模型中伯川德-施塔贝格均衡点并不稳定，最终会趋向于伯川德-纳什均衡点。
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Under the hypotheses of Bertrand competition, the necessary and sufficient conditions for the fully separating equilibrium of two-stage insurance are studied.