G-2004-49
Efficiency of Bertrand and Cournot under Precommitment
, et
référence BibTeXWe consider a differentiated duopoly where firms invest in research and development (R&D) to reduce their production cost. We show that if the firms play a one stage game, i.e., they choose R&D and price (in Bertrand game) or quantity (in Cournot game)at the same time, then the usual result stating that Bertrand competition is more efficient than Cournot competition still holds.
Paru en juin 2004 , 12 pages
Publication
      
        jan. 2005
      
  
  
              Efficiency of Bertrand and Cournot under precommitment
    
    ,  et 
    
      Game Theory and Applications, 10, 31–38, 2005
      
        
        référence BibTeX