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Economic natural selection in Bertrand and Cournot settings

✍ Scribed by Burkhard Hehenkamp; Cheng-Zhong Qin; Charles Stuart

Publisher
Springer-Verlag
Year
1999
Tongue
English
Weight
161 KB
Volume
9
Category
Article
ISSN
0936-9937

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✍ GΓ©rard Gaudet; Michel Moreaux πŸ“‚ Article πŸ“… 1988 πŸ› Elsevier Science 🌐 English βš– 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