Kirui, Kipyegon Benard - 2013 - April 2013, first draft
This paper reconciles the Cournot and Bertrand Models of oligopolistic competition, highlighting its weaknesses and …) ignored the quantity? From the review, the main conclusion of this paper is that oligopoly competition is guided in the long … run by production capacity competition, as advocated by Cournot, equilibrated through price competition in the short run …