Ghosh, Arghya; Mitra, Manipushpak - In: Journal of Institutional and Theoretical Economics (JITE) 170 (2014) 3, pp. 496-519
We revisit the comparison between Bertrand and Cournot competition in a symmetric differentiated oligopoly where each firm maximizes a weighted average of its own profit and welfare. Under very general specifications, Bertrand competition yields higher prices and profits, and lower quantities,...