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...

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...