) ignored the quantity? From the review, the main conclusion of this paper is that oligopoly competition is guided in the long …This paper reconciles the Cournot and Bertrand Models of oligopolistic competition, highlighting its weaknesses and … run by production capacity competition, as advocated by Cournot, equilibrated through price competition in the short run …

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. …