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Cournot, Bertrand, and game theory: A further note

✍ Scribed by Robert W. Dimand; Mohammed H. I. Dore


Publisher
Springer US
Year
1999
Tongue
English
Weight
644 KB
Volume
27
Category
Article
ISSN
0197-4254

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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