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. …

We study the collusive efficacy of competition clauses (CC) such as the meeting competition clause (MCC) and the … beating competition clauses (BCC) in a general framework. In contrast to previous theoretical studies, we allow for repeated …

In this paper, we tackle the dilemma of pruning versus proliferation in a vertically differentiated oligopoly under the …