This paper demonstrates that the standard conclusions regarding the comparison of Cournot and Bertrand competition are … Cournot competition yields higher output, lower wholesale prices, lower final prices, higher consumers' surplus, and higher … total welfare than Bertrand competition. …

-downstream exclusive relationships credibly sustain the Cournot (Bertrand) mode of competition in the downstream market, when the goods are …

contracts. When comparing integration to separation under Cournot and Bertrand competition, in contrast to conventional wisdom …, Cournot emerges in equilibrium obtained under uniform input pricing, which is asserted to be in contrast with Basak and Wang … (2016) showing that Bertrand emerges in equilibrium under discriminatory input pricing in the absence of network …