There are two standard versions for one-shot oligopoly games: the Cournot game and the Bertrand game. The common feature is that in both games the strategic variables are supply curves. Under Cournot the supply curves are vertical lines in price-quantity space, under Bertrand they are horizontal...

In Cournot games the strategic variable is output and players maximize profits assuming that the other players keep their outputs fixed. In Bertrand games the strategic variable is price and players assume the other players to keep their prices fixed. In this article I argue that it is not the...

This article is about the interpretation of Nash equilibria of one-shot oligopoly games in competition analysis. Such equilibria are often understood as steady-state equilibria of the corresponding game with continuous interaction between the market players. In my view, such interpretations are...