competition and Cournot conjectures; and (ii) supply function competition with ex post market clearing. We demonstrate both …. In a homogeneous oligopoly, under standard regularity conditions, we prove that Cournot-Nash emerges both under (i) price …

We show that the standard argument according to which supply function equilibria rank intermediate between Bertrand and … Cournot equilibria may be reversed. We prove this result within a static oligopolistic game in which both supply function … competition and Cournot competition yield a unique Nash equilibrium, whereas price setting yields a continuum of Nash equilibria …