marginal cost pricing may be observed. As a consequence, Bertrand-Nash equilibrium profits (welfare) may be higher (lower) than … Cournot-Nash ones. The reversal of the standard rankings occurs when pricing strategies mimic collusive behaviour. …

In this paper we verify the functioning of the standard neoclassical adjustment to equilibrium after a demand shock in … guaranteed. We show that the size of the demand shock determines the nature and number of equilibria generated by strategic …

horizontal merger of firms where the demand function is nonlinear. We take into consideration the open-loop equilibrium. We show … that in relation to the fact that the demand is nonlinear and prices follow some stickiness an incentive for small merger … exists, while it does not appear under the standard approach using a linear demand function. …