Mukherjee, Arijit - University <Nottingham> / Department of Economics - 2003
under Cournotcompetition compared to Bertrand competition when the initial cost difference of thesefirms is moderate; but …, for very small or very large cost initial cost differences, welfare ishigher under Bertrand competition. If licensing … occurs with per-unit output royalty,welfare is always higher under Bertrand competition. …