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Consider a two-period duopoly game with discounting. The firms can choose one of three prices in each period corresponding to collusion (C), Bertrand (B) and

Consider a two-period duopoly game with discounting. The firms can choose one of three prices in each period corresponding to collusion (C), Bertrand (B) and price war (W) levels. Their payoffs in each period when firm i charges P i are given by

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