This paper demonstrates that the standard conclusions regarding the comparison of Cournot and Bertrand competition are … Cournot competition yields higher output, lower wholesale prices, lower final prices, higher consumers' surplus, and higher … total welfare than Bertrand competition. …

competes with another firm à la Cournot in a second market. We compare treatments where the multi-product firm (i) always …

generally more competitive than the Cournot outcome, irrespective of whether the Cournot outcome is the Nash equilibrium or not …. Nevertheless, the Cournot model entails some predictive power. Exact Cournot choices are more likely to occur for both capacities … and prices under efficient demand rationing, where the Cournot outcome is the equilibrium, than under proportional …