Chang, Ming; Ho, Yan-Ching - In: Journal of Economics 113 (2014) 2, pp. 133-174
We compare the Cournot and Bertrand equilibria in an asymmetric duopoly with product R&D competition. If a firm’s marginal cost is lower than that of its rival, then this firm (its rival) is referred to as the more (less) efficient firm. Under each mode of competition, there are three types of...