We revisit the classic profit-ranking of Cournot and Bertrand equilibria and the issue of endogenous choice of a price … firm earns higher (lower) profit under Bertrand competition than under Cournot competition. Therefore, unless network …, Cournot equilibrium always constitutes the subgame perfect Nash equilibrium (SPNE). However, a prisoners's dilemma type of …

Cournot and Bertrand competition. Delegation with 'own-performance' based incentive schemes always leads to early adoption in … markets with Bertrand competition compared to that under no-delegation, but not necessarily so in markets with Cournot … competition. It also shows that the ranking of Cournot and Bertrand equilibria in terms of delay in adoption depends on the type …