Although common belief is that welfare is higher under Bertrand competition compared to Cournot competition, we show that this may not be the case in the presence of passive cross-ownership, which is widely observed in the real world. In a symmetric duopoly, we show that while the profits are...

"This book is the first book to provide opportunities for millions working in economics, accounting, finance and other business areas education on HONNs, the ease of their usage, and directions on how to obtain more accurate application results. It provides significant, informative advancements...