governments under subsidy regime, Cournot competition is more efficient than Bertrand competition when the goods are substitutes … is greater under Cournot competition than under Bertrand competition. … or quantities in a third market. We show that even though each firm can earn higher profits under Cournot competition …

governments under subsidy regime, Cournot competition is more efficient than Bertrand competition when the goods are substitutes … about a change in the competition mode from Bertrand competition to Cournot competition if goods are substitutes. On the … or quantities in a third market. We show that even though each firm can earn higher profits under Cournot competition …