Haan, Marco; Maks, Hans - In: Journal of Economic Studies 23 (1996) 5/6, pp. 110-127
Proposes a model which shows that Stackelberg competition is not necessarily welfare‐ enhancing compared with Cournot competition. Shows that, although in a simple duopoly model prices in a Stackelberg equilibrium are lower than in a Cournot equilibrium, this is not necessarily true in an...