Hackner (2000, Journal of Economic Theory 93, 233-239) shows that in a differentiated oligopoly with more than two … sensitive to the duopoly assumption. Hackner (2000, Journal of Economic Theory, 93, 233-239), however, leaves unanswered the … firms, prices may be higher under Bertrand competition than under Cournot competition, implying that the classical result of …

symmetric duopoly, we show that while the profits are higher under Cournot competition, consumer surplus and welfare are higher …Although common belief is that welfare is higher under Bertrand competition compared to Cournot competition, we show … under Cournot competition compared to Bertrand competition if the manager of a firm gives more weights to the rival firm …

A numerical procedure capable of obtaining the equilibrium states of oligopoly markets under several assumptions is … and any location of the firms. Four scenarios of oligopoly markets were developed by combining both strategies from one …