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Comparing Cournot and Bertrand equilibria in a differentiated duopoly with product R&D

✍ Scribed by George Symeonidis

Book ID
117360917
Publisher
Elsevier Science
Year
2003
Tongue
English
Weight
98 KB
Volume
21
Category
Article
ISSN
0167-7187

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✍ Gérard Gaudet; Michel Moreaux 📂 Article 📅 1988 🏛 Elsevier Science 🌐 English ⚖ 323 KB

This paper considers a differentiated nonrenewable natural resource duopoly. The outcome of a Cournot type game, where both producers compete in quantities, is compared to that of a Bertrand type game, where both producers compete in prices. It is shown that a Cournot game yields a higher present va