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Cournot-Walras and Cournot equilibria in mixed markets: A comparison

✍ Scribed by Giulio Codognato


Publisher
Springer
Year
1995
Tongue
English
Weight
438 KB
Volume
5
Category
Article
ISSN
0938-2259

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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