We consider the efficiency of Cournot and Bertrand equilibria in a duopoly with substitutable goods where firms invest … in process R&D. Under Cournot competition firms always invest more in R&D than under Bertrand competition. More … importantly, Cournot competition yields lower prices than Bertrand competition when the R&D production process is efficient, when …

in separate stages, as then firms want to limit the toll competition by setting lower capacities; or when firms set … higher capacities. In our Stackelberg competition, the firms that act last have few if any capacity decisions to influence …. Hence, they are more concerned with the toll-competition substage, and set a higher volume/capacity ratio than sociall y …

affects the optimal price/price markup or optimal quantity. A monopoly example is used to show that seemingly strong … uncertainty types can lead to quite special results. Monopoly examples of the newsboy problem type are further used to show that …

initial extraction, contrary to the case under perfect competition. Both policy instruments lower cumulative extraction. If …

This paper analyzes third-degree price discrimination of a monopoly airline in the presence of congestion externality …